Zida Computer Technologies has become the latest company to postpone its initial public offering (IPO) in the face of dampened market sentiment toward new technology listings. The computer components maker withdrew at the 11th hour yesterday, only a day before its offering was due to open. The withdrawal follows last month's postponement of listing plans by main-board candidate ColbyNet, and Growth Enterprise Market (GEM) hopefuls Caripac .com and China Infonet. 'Owing to the current market condition, it has been decided that the listing will be postponed,' Zida said yesterday. Zida, which designs and makes personal computer motherboards, planned to raise HK$74.8 million via a main board listing this month to finance research and development. Tung Tai Securities associate research director Kenny Tang Sing-hing said the company's business was not considered very attractive to fund managers, who have become more selective after a substantial correction in technology stocks. 'The company's track record was quite good but the future prospects are not so certain given falling computer prices are posting pressure on component profit margins,' he said. Downsizing by the Legend Holdings, the mainland's largest personal computer maker, of its loss-making motherboard manufacturing business had also raised questions over the industry's prospects, he added. Meanwhile, GEM candidate Proactive Technology a mobile-phone application provider, is planning to raise about HK$64 million by offering 46.4 million shares at HK$1.38 each, according to a source.