Beijing Shougang LanzaTech Technology (HKG:2553) postponed its Hong Kong initial public offering after being named a defendant in a civil case filed by a shareholder of one of its key operating subsidiaries, according to a late-Wednesday Hong Kong bourse filing.
The company stated that it will publish a supplemental prospectus in due course to provide updated information, including a revised listing timetable and application procedures.
Shougang LanzaTech added that it will refund the margin financing it secured for the planned IPO and that no share certificates have been issued.
The carbon capture, utilization, and storage company had launched its initial public offering in Hong Kong in late June, seeking to raise up to HK$381 million from the deal.
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