China.com's Parent Internet Company Files For Bankruptcy Protection
Summary
CDC Corporation, the first Chinese Internet company listed in Nasdaq, has reportedly filed for bankruptcy protection. The Hong Kong-listed China.com Inc., a subsidiary of CDC Corporation, announced that its website will not be affected by bankruptcy protection of the parent and be operated continually and normally. Affected by the news, CDCs share price decreased by 52% to USD0.42 on the date of the announcement and the companys stock transaction was then suspended. From its early days as an Internet pioneer in Asia, the company has grown and evolved into a value-added operator of, and growth investor in, hybrid enterprise software, IT, and new media businesses. It has five departments, providing software, business, online game, application, Internet, and media services.
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