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)
Reuters
