MANILA -- A unit of Taiwanese contract manufacturer New Kinpo Group on Wednesday postponed an initial public offering in the Philippines, becoming the latest company to delay fundraising plans amid local market uncertainty.
Cal-Comp Technology Philippines had planned to sell shares worth 6.8 billion pesos ($126 million) from Sept. 18-25 and list them on the Philippine Stock Exchange on Oct. 2, according to its IPO prospectus. But the company said that due to "current market conditions and investor sentiment" it had been forced to temporarily defer its public debut.
