China Tuna pulls IPO in the face of environmental concerns over Pacific bigeye tuna
SEAFOODNEWS.COM [Stuff.co.nz] - September 22, 2014 -
A large Chinese fishing company wanting to vastly increase its Pacific tuna operations has suspended a share float following revelations it under-stated risks.
China Tuna Industry Group, with the help of Frankfurt headquartered Deutsche Bank AG, last month launched a US$100 million to US$200m IPO on the Hong Kong Stock Exchange to fund a massive and sophisticated expansion of South Pacific tuna fishing.
China Tuna was accused of significantly understating the risks it faced chasing bigeye tuna and that it was telling investors that international quotas were unlikely to have any affect on its operations.
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