The Digital Source For China's Tech Innovation Since 2000

Search
Close

China's Xunlei Preps Tech IPO Plans In The USA

July 4, 2011
Business | Internet

China-based Xunlei Limited, a digital media content platform, announced it plans to sell 7.6 million American Depositary Shares in its initial public offering on Nasdaq.

The company is partially backed by American search engine Google, which will own 1% of the company and maintain a 1.4% voting right after the IPO.

Xunlei Limited is actually a Cayman Island company that has a wholly foreign owned entity operating in China. That WFOE has a variable interest entity relationship with Shenzhen Xunlei Networking Technologies Company Limited.

Shenzhen Xunlei is the actual company that manages the revenue generation in China for Xunlei, and it is directly owned by Sean Shenglong Zou, the company's co-founder, chairman and chief executive officer; Hao Cheng, a co-founder and director; Jianming Shi; Guangzhou Shulian Information Investment Company Ltd.; and Fang Wang.

Shenzhen Xunlei then owns majority or total stakes in six more companies in China that help to sell services to customers.

Tags: Google | initial public offering | Internet video | investment | ipo | nasdaq | online video | search engine | Xunlei

Other Related News:

Mediolanum leads Italian investors in Ferretti's Hong Kong IPO-source

March 31, 2022

Some parents in China laud new rule limiting video game time for children

September 21, 2021

Liontrust Investment Partners LLP Sells 77,900 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Stock Observer

September 7, 2022

ZTE Invests CNY300 Million For TMT Joint Venture

July 7, 2016

China Mobile, China Telecom Participate In Google's Optical Cable Project

August 14, 2014

Baidu In Court For Attacking Servers

September 4, 2005

US Set to Widen Curbs on Semiconductors for AI, Chipmaking Tools Shipments to China: Report NewsDeal

September 13, 2022

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Stock Position Decreased by Wesbanco Bank Inc.

November 23, 2021

GRAPHIC-How 2022 shocked, rocked and rolled global markets

December 22, 2022
  • 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