HNA Group cancels IPO for Gategroup at last minute

Credit: Rob Finlayson
China’s HNA Group canceled an initial public offering (IPO) for Switzerland’s Gategroup at the last minute because of a gap in valuation under current market conditions, dealing a blow to the debt-ridden Chinese company. Gategroup said the IPO, valued about CHF350 million ($370 million), was...

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