Today was meant to be a big leap forward for Sijia Group, a Chinese company that makes bouncy castles among other inflatable and waterproof products. Following months of preparations, Sijia had been planning to make its debut on the Hong Kong stock exchange.
But things have not gone to plan. Just over a week ago the company scrapped its initial public offering at the eleventh hour, blaming “current market conditions” after investors were unwilling to pay a high enough price for the shares.
Sijia is one of dozens of companies worldwide that have cancelled or scaled back IPOs in recent weeks as markets have tumbled and investors have become more discriminating.
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