George Soros, who was said to buy $50 million shares of Chow Tai Fook in its up to $3 billion Hong Kong IPO, may cancel the subscription, Wall Street Journal quoted an source as saying.

Dow Jones Newswire said earlier in a report that the billionare investor is planning to buy $40-$50 million of the Hong Kong jeweler's  IPO shares.

Chow Tai Fook, with revenue greater than Tiffany & Co, set a price range of between 15 HK dollars and 21 HK dollars each for the 1.05 billion new shares on sale and will start trading on Dec 15th.