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Wah Kwong Maritime pulls Hong Kong IPO

Thu Jun 5, 2008 7:33pm EDT

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HONG KONG, June 6 (Reuters) - Wah Kwong Maritime Transport Holdings Ltd (0067.HK) said late on Thursday it would not proceed with its initial public offering in Hong Kong due to instability in the international capital markets.

The Hong Kong bulk and tanker shipping company said it was "in its best interest to consider re-launching the offering at a later stage when the market conditions resume stability".

For details please see here 0605308.pdf Wah Kwong, one of Hong Kong's oldest bulk shippers, plans to raise as much as $163.5 million by selling 125 million new shares at HK$7.78-HK$10.20 each. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Louise Heavens) (donny.kwok@reuters.com; +852 2843 6441; Reuters Messaging: donny.kwok.reuters.com@reuters.net))


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