Xunlei puts off pending IPO
0 Comment(s)
Print
E-mail
China.org.cn, June 17, 2011
Chinese digital media company Xunlei Limited may postpone its plan for initial public offering (IPO) on Nasdaq due to a weak market, according to an unamed source close to an underwirter responsible for Xunlei's listing.
The Internet firm partly owned by Google filed with US securities regulators on Wendsday to raise up to US$200 million through an IPO of American Depositary Shares.
Chinese tech shares are losing luster for American investors as they kept slipping on the market over the past few weeks. US research firms like Muddy Waters and Citron Research exposed some listed companies from China who faked their financial statements.
The spokesman of Xunlei declined to respond to the put-off of IPO, because the company is required to make a comment during a tacit period.
But Xunlei got boosted from a new fund injection from Rupert Murdoch's family fund, RW Investments LLC.
Nanfang Metropolitan Daily reported that Murdoch said Wednesday his family fund made a $29.4 million third-round investment in Xunlei in April. RW Investment LLC was not listed among its major restricted shareholders at the time.
Xunlei had no comment on the investment.
Go to Forum >>0 Comment(s)