China's Forms Syntron delays $120 million Hong Kong listing

HONG KONG, ‌Sept 18 (Reuters) - ​Shenzhen ​Forms Syntron Information has postponed its planned Hong Kong listing, ‌citing market conditions, the Chinese financial ⁠technology firm said in a filing late ‌Thursday.

• Forms Syntron had ‌aimed to sell 58.96 million Hong Kong shares at up to HK$16 each, ​raising up to HK$943.4 million ($120.3 million).

• It said it will ⁠not sign the international underwriting agreement related to the ​offering. It will refund all application money, without interest, by September ​22.

• The company had ‌lined up HK$119.6 million from cornerstone investors, 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 and it remained committed to growth. It and its advisers were assessing a ‌new timetable.

• Forms Syntron, already listed in Shenzhen, develops software ‌and provides consulting services for ⁠banks, financial market ‌operators and regulators.

($1 = ​7.8446 Hong Kong dollars)

(Reporting by Yantoultra Ngui; Editing by Rashmi ‌Aich)

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