| China Yongda Automobiles Services Holdings, which sells BMWs and Toyotas in China, said Monday it has scrapped its plan to raise up to US$433 million in an initial public offering in Hong Kong owing to deteriorating equity markets, in the biggest IPO casualty of weak markets in Asia this year.
The postponement is noteworthy because Yongda had secured US$150 million of cornerstone investment from Baring Private Equity Asia V Holding Ltd. and Oman sovereign wealth fund Oman Investment Fund...............................................Full Article: Source
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