China Haisheng Juice Holdings, the mainland's largest apple juice concentrate producer, has postponed its $312 million initial share offering which was originally set to start yesterday. The company plans to sell 306 million shares at a preliminary price range of 82 cents to $1.02 each. The retail tranche of the public offering was scheduled to kick off yesterday ahead of a trading debut on October 21. Market sources said the juice maker had encountered some 'technical problems' and would fail to meet the initial listing timetable. Rumours said Haisheng's postponement was due to Goldman Sachs wanting to transfer its 25 per cent stake in the company to convertible preference shares from convertible bonds, which would require Haisheng's listing sponsor, Value Convergence, to submit additional information to the stock exchange. However, the sources said the delay was unrelated to Goldman because there was no point in transferring convertible bonds into convertible preference shares. They said Haisheng would restart the offering as soon as it had solved the technical problems. The flotation had received a good response during its pre-marketing, they added. Both Value Convergence and Goldman declined to comment yesterday. Meanwhile, home appliance retailer China Paradise Electronics Retail attracted strong support from retail investors and it was 'highly likely' the public tranche would be increased to the maximum 50 per cent from 10 per cent, sources said. The more than 500-point drop in the stock market during the public offer period had caused concern that retail investors would stay away and reserve their money for China Construction Bank's upcoming offer, but sources said the retail tranche, which closed yesterday, had been more than 100 times subscribed, once again confirming the popularity of mainland consumer concept stocks. Institutional demand was also solid, and the withdrawal of orders over the past couple of days had been minimal, they said. China Paradise was aiming to raise up to $1.04 billion from the sale of 455.77 million shares at between $1.90 and $2.30 each. The final price will be determined today and sources said barring a sharp drop in US markets yesterday it would end up in the upper half of the range.