$154 Billion in Share Sales Stuck After Chinese Market Meltdown
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BYD Corp.’s Song sport-utility vehicle (SUV) stands on display at the 16th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2015) in Shanghai, China, on Monday, April 20, 2015. Chinese automakers are trying to produce more upscale cars to match the rising aspirations of consumers, after successfully dominating the fast-growing sport-utility vehicle market with cheaper alternatives. Photographer: Tomohiro Ohsumi/Bloomberg
More than $154 billion of share offerings in China are in danger of being shelved as the collateral damage from the the nation’s stock-market rout spreads.
“Selling new shares now, whether publicly or privately, is like trying to draw blood from a patient who’s already looking so weak and pale,” said Zhang Qi, an analyst at Haitong Securities Co. in Shanghai…
$154 Billion in Share Sales Stuck After Chinese Market Meltdown
