Forms Syntron Delays 120M Hong Kong IPO
Shenzhen Forms Syntron has postponed its planned Hong Kong listing citing market conditions. The fintech firm will refund all application money without interest and assess a new timetable.
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SHENZHEN FORMS SYNTRON INF-A postponed its $120.3 million Hong Kong IPO on Thursday afternoon, citing unfavorable market conditions. The Chinese financial technology firm planned to sell 58.96 million shares at up to HK$16 each. The delay halts a listing backed by cornerstone investors including CHOW TAI FOOK JEWELLERY GROU.
The company said it will not sign the international underwriting agreement for the offering. Management confirmed that all application money will be refunded without interest by September 22.
