Changsheng China drops HK IPO amid mkt turmoil

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HONG KONG Jan 23 (Reuters) - China's commercial developer Changsheng China Property Co Ltd said on Wednesday it had decided not to proceed with an initial public offering in Hong Kong due to the current turmoil in the international capital markets and adverse market conditions.

It dropped the IPO after the dismal trading performance of some recent IPOS in Hong Kong, the company said in a statement.

The company hoped to raise up to US$145 million from the IPO, a source familiar with the deal told Reuters earlier this week.

For details please read here (Reporting by Alison Leung; Editing by Jeffrey Benkoe)