Several firms stumble, tarnish credibility in rush to get listed
To err is human, but a string of mistakes is hurting the credibility of some of the initial public offerings that have been falling over each other to take advantage of all the hot money in town.
At least four companies have had to issue clarification notices or addendums in the past month for errors in their thick prospectuses or listing documents.
The latest is PCD Stores (Group), which cut its market capitalisation by a quarter to between HK$1.56 billion and HK$1.9 billion.
The correct figure, on page 20 under the table headed 'offer statistics', should be between HK$6.6 billion and HK$8 billion.
If the mainland department store messed up this very important figure, it makes you wonder if the company's staff should be out checking all the price tags in its shops.
