In July 2019, Green Trend Holdings Co. Ltd. (Green Trend) faced a difficult situation with regard to flaws in the preparation of its proposed initial public offering on the Stock Exchange of Hong Kong. According to the remedy measures raised by the underwriter facilitating the initial public offering process, Green Trend needed to raise additional capital of ￥1 billion with a proposed annual interest rate of about 30 per cent. Of course, the company could have postponed the initial public offering; however, without the long-awaited return following a successful initial public offering, all the efforts taken in past years would be in vain. The uncertainty of the capital market would further complicate the future road to an initial public offering. Did Green Trend have better alternatives?
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