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New Century cancels Singapore IPO plans

New Century cancels Singapore IPO plans

Singapore: China's New Century Shipbuilding Ltd has canned plans for an initial public offering in Singapore.
?"New Century Shipbuilding Limited wishes to announce that it has decided not to go ahead with its planned initial public offering at this time," the company said in a filing to the Singapore Exchange late Tuesday. ?
The company didn't cite the reasons for calling off its IPO. ?But persons familiar with the situation had earlier told  Dow Jones that adverse global market conditions due to the crisis in euro zone were playing in investors' minds.  [05/05/10]

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