Datang had earlier postponed its IPO for a week because of volatility on the Hong Kong exchange, but was due to start taking orders on 2 December, with pricing of the issue to take place on 10 December.

Datang is hoping to raise HK$6.8bn ($876m) from 2.14bn new shares, with the issue being managed by China Everbright, UBS, JPMorgan Chase, Credit Suisse and Macquarie Group.

Rival