HONG KONG, Sept 18 (Reuters) – Shenzhen Forms Syntron Information has postponed its planned Hong Kong listing, citing market conditions, the Chinese financial technology firm said in a filing late Thursday. • Forms Syntron had aimed to sell 58.96 million Hong Kong shares at up to HK$16 each, raising up to HK$943.4 million ($120.3 million). • […]
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China’s Forms Syntron delays $120 million Hong Kong listing
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HONG KONG, Sept 18 (Reuters) – Shenzhen Forms Syntron Information has postponed its planned Hong Kong listing, citing market conditions, the Chinese financial technology firm said in a filing late Thursday.
• Forms Syntron had aimed to sell 58.96 million Hong Kong shares at up to HK$16 each, raising up to HK$943.4 million ($120.3 million).
• It said it will not sign the international underwriting agreement related to the offering. It will refund all application money, without interest, by September 22.
• The company had lined up HK$119.6 million from cornerstone investors, including Chow Tai Fook Jewellery vice-chairman Cheng Chi Heng, Successful Lotus, Thalassa Capital and Yeebo Alpha.
• Forms Syntron said the delay would not affect its business and it remained committed to growth. It and its advisers were assessing a new timetable.
• Forms Syntron, already listed in Shenzhen, develops software and provides consulting services for banks, financial market operators and regulators.
($1 = 7.8446 Hong Kong dollars)
(Reporting by Yantoultra Ngui; Editing by Rashmi Aich)