$1.2 bln HongKong IPO Been Delaied

China's XCMG ConstructionMachinery postpone the $1.2 billion Hong Kong stock offering, The decision came only a few days after bigger rival Sany Heavy Industry pulled its $3.3 billion Hong Kong share offer due to market turmoil.

The original size of the IPO was $1.5 billion. XCMG recently added six more banks to the underwriting team, taking the total number of banks on the deal to 12 according to IFR.

ABC International, BOC International, BoCom International, Essence Securities, Goldman Sachs Group Inc and ICBC International will join BNP Paribas SA China International Credit Corp, Credit Suisse Group AG, HSBC Holdings Plc, Macquarie Group Ltd and Morgan Stanley to arrange the float.

Sany Heavy postpone the planned with $3.3 billion Hong Kong offering. Xiao Nan Guo Restaurants Holdings also decided to call off its $95 million Hong Kong IPO.