Fed Rate Cut Comes too Late for Asian IPOs

Changsheng and Cebu Air postpone their IPOs as Asian markets tumble, and another four deals due to price this week hang in the balance

The surprise US Federal Reserve rate cut last night may have helped to halt the panic sell-off in financial markets, but the move came too late for some of the ongoing initial public offerings in Asia. These IPOs have been faced with rapidly declining valuations for their sector peers and investor reluctance to add to their exposures.

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