Crash hits China Telecom IPO and PRC global offer

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Crash hits China Telecom IPO and PRC global offer

October 24, 1997 12:00 AM

CHINA FAILED to live up to its new found reputation as the safe haven in Asia this week when whipsawing markets ravaged a $500m global bond from the People's Republic and soured the trading debut of China Telecom, the country's largest equity offering.Despite signs on Friday that regional markets were attempting to stage a rally from the week's lows, casualties were already beginning to emerge.

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