The Digital Source For China's Tech Innovation Since 2000

Search
Close

CellStar Delays China IPO?

May 19, 2004
Business

CellStar Corp., which provides handset logistics and distribution to carriers, said it will delay its planned initial public offering in China due to the company's flailing Taiwan operation and the depressed Chinese stock market.

The company said its CellStar Taiwan business failed to score a major bid to provide handset distribution and logistics for a major Taiwanese carrier. Thus, the company is considering leaving the business out of its IPO, which would require a revised filing. Further, CellStar said the Asian stock markets have experienced a recent downturn, and several Chinese companies have recently delayed or reduced the size of planned stock offerings. CellStar said the situation may improve by the fall, but "because the IPO is subject to numerous conditions, there can be no assurance that the IPO will be completed."

Tags: bid | Business | carrier | China | Chinese | distribution | handset | initial public offering | ipo | IT | logistics | stock | stock market | Taiwan

Other Related News:

China could bypass the Swift network with its digital yuan

March 1, 2022

China's sea monster: The Fujian, one of the world's largest aircraft carriers, set to enter trials

January 4, 2023

HK Culturecom, IBM Help Promote IT Infrastructure

July 13, 2004

Xiaomi confuses in the smartphones more and more. Company will let out one more Redmi Note 11 SE which will differ from Chinese Hi-Tech

July 31, 2022

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Shares Purchased by Capital Insight Partners LLC

August 23, 2021

German Jets Race To Singapore In 24 Hours In Indo-Pacific Drills Message To China Amid Taiwan Row?

August 17, 2022

Geely Automobile Already Owns Electric Car Makers Like Zeekr. Now the Chinese Group is Set … – Latest Tweet by Reuters

August 19, 2022

Alibaba Executives Called In by China Authorities as It Investigates Historic Data Heist

July 15, 2022

Sino Weibo sacks censor over online attack on bereaved user

August 30, 2021
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter