China Tuna suspends IPO
 

CHINA
 
A large Chinese fishing company wanting to vastly increase 
its Pacific tuna operations has suspended a share float 
following revelations it under-stated risks.

 

China Tuna Industry Group, with the help of Frankfurt 
headquartered Deutsche Bank AG, last month launched a USD 
100 million to USD 200 million (NZD 120 million to NZD 240 
million) IPO on the Hong Kong Stock Exchange to fund a 
massive and sophisticated expansion of South Pacific tuna 
fishing.

Fairfax Media earlier this month reported that China Tuna 
was significantly understating the risks it faced chasing 
bigeye tuna and that it was telling investors that 
international quotas were unlikely to have any affect on 
its operations.