Haitong Securities (600837.SH) delayed a planned US$1.67 billion initial public offering on the Hong Kong Stock Exchange due to market volatility and falling Chinese equity prices, The Wall Street Journal reported. China’s second-largest brokerage by assets had scheduled its IPO on December 15, but announced the postponement on Monday. The move comes just days after two other large Hong Kong IPOs – Chow Tai Fook Jewellery Group (1929.HKG) and New China Life Insurance (1336.HKG) – priced near the bottom of their respective ranges. Chinese stocks have taken a battering this year following a wave of corporate governance scandals, bearish sentiment towards the country and economic uncertainty abroad. The Shanghai Composite Index is off 18% this year, and Hong Kong’s benchmark Hang Seng Index has fallen 19%. However, some companies – such as Beijing Jingneng Clean Energy and Tianrui Group Cement – are still braving the markets with plans to list before the upcoming holiday season.