Reuters: Global Markets: Copper producer CNMC pulls $313 million HK IPO: IFR

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Copper producer CNMC pulls $313 million HK IPO: IFR May 30th 2012, 02:13 HONG KONG | Tue May 29, 2012 10:13pm EDT HONG KONG (Reuters) - Copper producer China Nonferrous Mining Corp. has decided to pull a Hong Kong initial public offering of up to $313 million because of worsening market conditions, IFR reported on Wednesday, citing sources involved in the transaction. The company, which has operations in Zambia, originally planned to finish taking orders for the deal on May 24, but extended the bookbuilding period to this week, added IFR, a Thomson Reuters publication. This would be the second major Hong Kong IPO to be pulled this week, following automobile dealer, China Yongda Automobiles Services, which on Monday scrapped its $434 million deal.

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