Nasdaq OMX Group <NDAQ.O> could see a 'flurry' of Chinese company listings on the exchange as early as the fourth quarter if market conditions improve, an executive with the company said on Monday.
Volatile market conditions have caused 35 IPOs bound for the Nasdaq (NASDAQ: news) worth $3.7 billion to be cancelled this year, according to Thomson Reuters (TRI.TO - news) data.
While there is no shortage of companies in China wanting to go public, the problem is the valuation, said Eric Landheer, head of Asia Pacific for Nasdaq OMX Group in an interview.
'The big issue is whether they will attract proceeds at the pricing levels they are looking for and it's a bit of a disconnect right now between what people think they can get in terms of the pricing and what investors are willing to pay for these companies,' he said.
'We could see a flurry of those deals in the fourth quarter should market conditions improve,' said Landheer.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment