Mando China Holdings Ltd Announces Postponement Of Global Offering
Mando China Holdings Ltd announced that due to adverse market conditions that have developed since the start of the Global Offering, and which led to significant market volatility, both Mando Corporation and the Company have decided to postpone the planned Global Offering and listing of the Company on the Hong Kong Stock Exchange. Accordingly, the International Purchase Agreement in relation to the International Offering will not be entered into and the Hong Kong Underwriting Agreement in relation to the Hong Kong Public Offering will not become unconditional. The decision to postpone the listing does not in any way affect the Company’s business and the Company is committed to develop and grow business. The Company and Mando Corporation remain committed to proceed with the listing of the Company in the future, when market conditions have improved, to unlock the true value of the Company, and will continue to monitor market conditions to assess the appropriate window for listing.
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