New Century nixes IPO

10:12, May 06, 2010      

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China's New Century Shipbuilding withdrew its $560 million Singapore IPO after a complaint the firm left out critical information in its prospectus, sources said Wednesday, the latest controversy over a Chinese firm listing in the city-state.

Two sources familiar with the deal confirmed a report in the Singapore Business Times Wednesday that said the Chinese shipbuilder failed to disclose an ongoing legal dispute with a customer that had canceled an order for two bulk carriers.

Source: Global Times

(Editor:黄蓓蓓)

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