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CDC Corporation Finally Spinning Out Software Subsidiary
August 21, 2007 |
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CDC Corporation (CHINA) plans to file with the U.S. Securities and Exchange Commission a registration statement for an initial public offering of up to US$225 million in shares for CDC Software, a business unit that develops enterprise software.
According to the company, the purpose of the offering is to allow CDC Software to more clearly differentiate its line of business from CDC Corporation and provide a more targeted investment vehicle for investors seeking to invest only in enterprise software portion of CDC Corporation's diverse businesses.
The offering is currently expected to commence during the fourth quarter of 2007, subject to the Securities and Exchange Commission declaring the registration statement effective.
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