Consumer lender Home Credit drops Hong Kong IPO
Adds details, statement
PRAGUE, Nov 21 (Reuters) - Consumer lender Home Credit has dropped plans for an initial public offering in Hong Kong, a spokesman said on Thursday, amid volatile markets in the Asian financial hub.
The Prague-based lender, controlled by the Czech Republic's richest businessman Petr Kellner's financial group PPF, had been seeking to raise more than $1 billion in the listing, according to market sources.
"Home Credit Group BV today announced that due to market conditions it has decided not to proceed with a global offering ... on the Stock Exchange of Hong Kong," the company said in a statement.
The spokesman for Home Credit, which has a sizable lending business in China, did not give further details on the decision.
Hong Kong has faced political turmoil and months of violent pro-democracy protests. Czech and Chinese relations have also hit bumps over a spat between the two capital cities over a partnership agreement.
The unrest has led to volatility on Hong Kong's financial markets.
(Reporting by Jan Lopatka and Jason Hovet; Editing by Mark Potter)
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