Forms Syntron postpones Hong Kong listing targeting HK$943.4 million

  • Forms Syntron postponed its planned Hong Kong listing, citing market conditions.
  • 58.96 million shares were offered at up to HK$16 each.
  • Applications will be refunded without interest by September 22.

Shenzhen Forms Syntron Information has postponed its planned Hong Kong listing, citing market conditions in a filing late Thursday. The Chinese financial technology firm had planned to sell 58.96 million Hong Kong shares at up to HK$16 each, potentially raising HK$943.4 million ($120.3 million). It will not sign the international underwriting agreement for the offering and will refund all application money without interest by September 22. Cornerstone investors had committed HK$119.6 million, including Chow Tai Fook Jewellery vice-chairman Cheng Chi Heng, Successful Lotus, Thalassa Capital and Yeebo Alpha. Forms Syntron said the delay would not affect its business, reaffirmed its commitment to growth and said it and its advisers were assessing a new timetable. Already listed in Shenzhen, the company develops software and provides consulting services for banks, financial market operators and regulators.

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