FORMS SYNTRON, which was scheduled to debut on the Hong Kong Stock Exchange next Tuesday, September 22, under the proposed stock code 06700, has abruptly announced a postponement of its global offering and planned main board listing. In a statement released Thursday, September 17, the company cited a variety of factors, including current market conditions, as the reason for the decision.

The international underwriting agreement for the global offering will not be executed, which in turn means the Hong Kong underwriting agreement for the public offering will not become unconditional. The company expressed gratitude to prospective investors for their interest, support, and positive feedback received during the offering period.

The company clarified that the decision to delay the global offering will have no impact on its current operations, underscoring its ongoing commitment to business development and expansion. Meanwhile, FORMS SYNTRON and its joint global coordinators are carefully evaluating a revised timeline for the offering and listing process.

Application monies paid by investors in connection with the IPO are expected to be refunded next Tuesday, September 22. The announcement did not provide specific details regarding the reasons for the IPO delay. China Merchants Bank International and Guosen Securities (Hong Kong) are serving as the joint sponsors for the FORMS SYNTRON IPO.