The market for initial public offerings (IPOs) on the Hong Kong stock exchange has significantly cooled in recent days, the Wall Street Journal reported. Bluestar Adisseo Nutrition, an animal nutrition producer part-owned by US private equity firm Blackstone Group (BX.NYSE), canceled a proposed US$1.56 billion IPO on Wednesday, just one day after China Datang Corporation Renewable Power put off preparations for a US$1 billion IPO. Bluestar Adisseo cited "continued and excessive market volatility" for the delay. Analysts reckon Hong Kong’s IPO market, the world’s largest so far this year, may be diminishing as investor appetite weakens. A series of recent listings on the Stock Exchange of Hong Kong have underperformed, including two in November. Four more IPOs are scheduled to raise a combined US$4 billion this year before the Christmas holidays.
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