News - CCCC lowers its sights

31/1/12: China Communications Construction Company (CCCC) has reportedly slashed the size of it Shanghai IPO by 75%, from RMB 20bn ($3.2bn) to RMB 5bn.
 

According to analysts cited by the BBC, the decision may be only partly explained be recent stock market volatility.
 

As well as the possibility of a slowdown in the Chinese economy, other explanations include CCCC seeking funding from elsewhere.
 

"It could mean they are getting more financing from within the Chinese banking system," the BBC quotes HIS analyst Tony Nash as saying.
 

CCCC is currently listed on the Hong Kong Stock Exchange.
 

See also portfinanceinternational.com/news,693.

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