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9you.com Cancels IPO In Japan
August 22, 2007 |
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9you.com has announced plans to cancel listing in Japan.
According to local media, the cancellation was a direct result of the legal disputes between 9you.com and T3 and Yedang, two online game companies in South Korea, which has brought about a big change to the overall business environment of 9you.com. 9you.com had planned to get listed on the Osaka Stock Exchange Market on July 12, but it had to suspend its IPO procedures due to the media's report of the company's dispute with T3, in which 9you claimed not to be the licenser of the game called Audition.
9you.com said that the cancellation of the IPO would not affect its normal operations. The company said that it would reconsider an IPO after this current dispute is settled.
Previously, T3 and Yedang announced through South Korean media that they would terminate their cooperation with 9you, which allegedly paid too little commission for using Audition and plagiarized their other games.
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