According to Chinese Media Insider sources, Rising Corp, one of the early Anti-virus software maker in China, has scraped its IPO plan. One of the reasons for Rising IPO is to raise enough cash to buy out existing shareholders. Even though Rising has an early start and a strong coverage for its anti-virus product, its market share is eroding quickly from competitive anti-virus software makers such as NOD32, Norton 360, Duba etc. Since Rising's 2010 product release shows little improvement compare to its 2009 product and limited upside for future growth, about 20% of the existing shareholders are demanding their cash back. This would put some pressure on Rising''s current operation and expanding plan.

Posted by Asia Sage on Monday, January 4, 2010
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