things are always full of variables until the last minute. Yesterday, the industry sources said the handle network canceled IPO, on the first day, the company’s management is still conducting IPO roadshow. Yesterday afternoon, foreign media reports, lashou has suspended the NASDAQ listing roadshow, the reason is the need to clarify some of the U.S. Securities and Exchange Commission accounting aspects of the dispute; the report also denied rumors of cancellation of listed lashou.com.
yesterday morning, Tu Hongchuan, general manager of highland capital venture capital director of a micro-blog cause of concern, he wrote: pull the net to cancel the IPO Wall Street investment bank said, ‘do not handle IPO’". In this regard, the reporter yesterday tried to call the handle Network Public Relations Director Wen Jie telephone confirmation, but has not connected. Handle network of investors, Jinsha River venture partner Zhu Xiaohu said in an interview not easy to comment.
yesterday afternoon, Reuters’s IFRAsia.com reported that the handle network has been suspended NASDAQ roadshow, because the site needs to be part of the SEC to clarify some of the accounting controversy. The report also quoted informed sources said, once the settlement plan to solve the problem that is to restart the roadshow roadshow, and said that the stock market has been said to handle the bad news because of the cancellation of the stock market is not real.
the day before yesterday, handle network management has just been listed roadshow, the company’s management is confident about the group purchase business model, and focus on the long-term profitability.
although the rumors of the cancellation of the handle network is denied, but it is undeniable that the handle network in the accounting controversy. The day before yesterday, a "JP Morgan accused accounting handle network problem" message is crazy reproduced, although afterwards Morgan chase the official rumor, but not unrelated.
investment industry sources, due to handle network by repeated exposure of CCTV data fraud, and selling counterfeit and shoddy goods, after the investment bank chiefs Morgan chase for its accounting problems and refused to handle network underwriters, a number of fund managers generally doubt the authenticity of its financial data. At the same time, lashou CFO Jian Zhang also suspected of financial fraud in the former company multiple printing, currently in the proceedings, for the fund managers of these questions, lashou roadshow did not give a convincing explanation.
, an American investment bank executives also analysis, in addition to the above reasons, handle network also faces itself very ugly and earnings last week listed the group purchase originator Groupon performance after the listing just passable. Profit. The first day to close at $26.11 Groupon shares yesterday fell to $24.02.
had lashou three rounds of financing, the A round of financing in July 26, 2010, total financing to Jinsha River venture capital institutions such as the Taishan angels, about $4 million 966 thousand and 700 of funds; later in December 31, 2010, handle network B round of financing, the total financing of approximately $30 million 400 thousand; in March of this year, handle network and the C round of financing, the total financing about $111 million.