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chinadotcom Proposes Name Change For Non-Internet Focus
March 21, 2005 |
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chinadotcom Corporation (CHINA) announced a proposal to change the name of its company to "CDC Corporation", subject to shareholder approval at an Extraordinary General Meeting to be held on April 20, 2005.
The company says the proposed new name without "dotcom" will better reflect the company's diverse business lines and the shift of its business focus away from a heavy reliance on the Internet sector. The company adds that the new name without the clear component of "China" will also better reflect the company's more geographically diversified revenue and customer mix.
The company's Nasdaq stock symbol "CHINA" will remain unchanged.
The company's statement also says that chinadotcom's 81%-owned subsidiary hongkong.com Corporation is also seeking to change its name to "China.com Inc".
Dr. Raymond Ch'ien, Executive Chairman & CEO of chinadotcom corporation commented, "The rebranding initiatives are strategically significant for us as both companies have been evolving since their IPOs. After our two strategic acquisitions in the software sector, chinadotcom is now more focused on global enterprise software while its 81%-owned subsidiary is focused on Internet and mobile applications related businesses in China."
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