Companies testing Asia’s IPO markets are being greeted with unenthusiastic responses from investors, prompting Chinese car maker Great Wall Motor (2333.HK) to price its offering at the low end of its given range and Shanghai restaurant chain Xiao Nan Guo to scrap its deal altogether, the Wall Street Journal reported. Great Wall said Wednesday that it would raise US$619.7 million in its Shanghai listing, while Xiao Nan Guo delayed its US$95 million Hong Kong IPO due to volatile markets. Taiwanese tea company Tenfu (Cayman) Holdings (6868.HK), the only recent company to price its IPO well, benefited from private equity firm General Atlantic buying 35% of its shares as a cornerstone investor. The poor year-to-date performance of most stocks continues to deter IPO investors; the MSCI Asia Pacific Index was down 4.9% in September, and eight of Asia’s top 10 IPOs this year are trading below their listing levels.