By Simon Rabinovitch in Hong Kong
The first cancelled initial public offering in the short history of China’s stock markets is being seen as a sign of maturation. But mainland markets remain closer to adolescence than adulthood and their growing pains may yet become sharper, brokers and analysts warn.
This week, Nanning Baling, a small producer of automotive radiators and heaters, scrapped plans to raise about Rmb300m ($46m) on the Shenzhen Stock Exchange, after failing to attract bids from the required 20 institutions during bookbuilding.
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