A slump in Asian equities over the last week has already derailed three major IPOs which were aiming to raise up to $1.37bn collectively: two in Hong Kong and one in Singapore.
The value of IPOs pulled in Asia, excluding Japan, has jumped to $7.7bn so far in 2012 from 46 planned offerings, according to Thomson Reuters. Hong Kong accounted for most of the scrapped deals. Rival Tiffany & Co recently added to the pressure, cutting its sales forecast last week and blaming slower demand in China. Is the Asian bubble about to burst?