Sany confirms delay of retail portion of HK share offering

21-Sep-2011 Intellasia | Reuters | 7:01 AM

China’s Sany Heavy Industry Co Ltd confirmed on Tuesday it has delayed the launch of the retail portion of its Hong Kong share offering until further notice.

“The delay was because management needs more time to meet all investors before pricing,” a company spokesman told Reuters.

“The road show is still ongoing, but the timing of the relaunch has to be confirmed.”

Sany Heavy Industry had delayed the launch of the retail portion of its planned $3.3 billion Hong Kong share offering because the of the worsening European debt crisis, IFR reported earlier on Tuesday.

http://www.reuters.com/article/2011/09/20/sany-ipo-idUSL3E7KK0AW20110920