Chinese microblogging site Weibo has cut its offered IPO size after a shaky start taking in only USD286 million from 16.8 million depository shares sold which was far from the expectations on Wall Street.
Tags: China
Chinese government punishes Sina.com for publishing pornographic content
The Chinese government arrested some people and fined Internet giant Sina.com for publishing and distributing pornographic content on its website as part of China's "Cleaning the Web" campaign which is held every year.
Domain Elite invests $6.5M to bring SMART Medical Systems' endoscopy products to China
American venture capital firm Domain Elite invested $6.5 million in Israeli endoscopy and colonoscopy products maker SMART Medical Systems to bring the latter's products to meet the demand for the said products in Greater China.
Chinese startup Baoku pockets $10M in Series A round to help people reduce travel costs
Beijing, China-based travel and expense management services provider Baoku pocketed $10 million in its Series A funding round led by China Broadband Capital (CBC) and Asiainfo-Linkage to help people reduce their travel costs by 20% to 50%.
Japan pulls out investments in China, directs focus to South East Asian countries
The territorial dispute between China and Japan has caused the latter to pull out its investments from the country and redirecting its focus to other South East Asian countries where it has already funded companies with USD22.8 billion last year.
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The initial public offering of microblogging platform Weibo has only sold 16.8 million shares instead of its expected 20 million share sale, reported TechCrunch.
Kowloon, Hong Kong-based investment firm China Haidian Holdings Ltd acquired London, UK-based Swiss watch retailer The Dreyfuss Group in an all-share deal that will see the Dreyfuss brands expand into Asia.
Shanghai, China-based bitcoin exchange BTC China released a new web app called the Picasso ATM to help Bitcoin users exchange the virtual currency even without a physical ATM.
Beijing, China-based online cosmetics and perfume retailer JuMei filed for an initial public offering (IPO) in the US to raise $400 million, based in a document filed with the US Securities and Exchange Commission.
Chinese posture-correcting wearable device Giraffe Friend launches crowdfunding campaign on DemoHour
Giraffe Friend, a wearable device that reminds the user to correct bad posture to prevent backaches, launched a crowdfunding campaign on DemoHour and has already raised $14,000 (CNY87,527).
Guangzhou, China-based mobile messaging app WeChat released its image recognition SDK (Software Development Kit) this week to allow third-party users to add the technology to their accounts.
Oneonta, US-based large format ultracapacitor manufacturer Ioxus secured $21 million in its Series C funding round to help address climate change by integrating its products into hybrid buses in China.
The biggest refiner in Asia, Sinopec would sell 30% of its shares in its retail assets said sources familiar with the matter but asked not to be named as the talks were held private, reported Bloomberg.
Tesla Motors Inc's General Manager Kingston Chang resigned prior the car maker's expansion in China, reported Bloomberg.
