Daily topic 58 city listed on the outbreak of equity disputes will be added to the listing

webmaster network (www.admin5.com) October 30th news, by the end of September this year, 58 city to the U.S. Securities and Exchange Commission (SEC) submitted a prospectus to be listed in the United states. The company raised $150 million of funds, the underwriters for Morgan Stanley, Credit Suisse and Citigroup, the transaction code is WUBA. In this coming to the end of the month the United States listed on the NYSE in 58 city, unfortunate encounter disputes.


it is understood that Liu Xuanfu (Chairman of the Beijing Sun Light Television Technology Co. Ltd.) recently to the Hubei Xiaogan city Xiaonan District People’s court, said the business online (Beijing) Technology Co. Ltd. (On-Line Company chairman Cheng Handong Yao Jinbo (business), chairman and founder of the city, CEO 58) against the interests of its shareholders, Hubei and Xiaogan city of Xiaonan the District People’s court has accepted Liu Xuan pay charges. According to Liu Xuanfu, December 2009, Cheng Han Dong advantage in business On-Line Company and seal, without shareholder approval did not inform the Liu Xuanfu case, in the name of the On-Line Company and private business Yao Jinbo signed an "agreement", to give up on behalf of the holders of 58 17.5% stake in the company, which seriously damaged the business as a On-Line Company the interests of the shareholders.

58 city, said the company CEO Yao Jinbo on 2009, in accordance with the normal procedures, and business opportunities online legal representative signed the equity transfer agreement, and subsequently in accordance with the relevant laws and regulations to complete the business registration. All procedures are legal, compliance, legal effect. At the same time, the transfer agreement, Yao Jinbo is in accordance with the normal procedures and business opportunities online legal representative signed. Under the agreement, Yao Jinbo also transferred its shares held online business opportunities, the two sides are no longer directly held by each other’s equity.

before the listing of the node, but the outbreak of equity disputes. The view that the number of equity disputes will affect the market confidence in the company’s share price. In this regard, 58 city, said the United States is currently still in accordance with the original plan IPO. In the case of listed companies before the dispute is not a minority. Will be listed in the United States in November where the network this month is also due to the dispute over the contract agreement was sued elong. Tudou.com, Jiuyou, Shanda Interactive Entertainment Limited have encountered a similar situation.

related reading:

Yao Jinbo’s "jealous friends" 58 city listed clogging process

58 city IPO before being accused of alleged infringement of the interests of shareholders Yao Jinbo

58 outbreak of a dispute with the city of Beijing, a company claims that 17.5% stake was occupied

listing bad luck 58 city this time and suspended


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