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Chinese Search Engine Seeks Foreign IPO
August 21, 2003 |
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Seeking to ride the recent wave of overvalued Chinese Internet portal stocks, online search company Beijing 3721 Technology Co Ltd, is hoping to cash in on the hype too.
In an interview with Reuters, Zhou Hongyi, the CEO of the company, said, "We hope to become a public company to help support our growth… and we'll grow along with the Chinese Internet industry."
Singapore might be the location for the public offering, as Hong Kong has been economically unsteady recently. Other sources in the company report that the offering will take place in 2004. The 3721 search claims to reach over 60 million users.
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