Chinese-language internet portal Sina.com has secured $60m in investment from international partners including Dell Computer of the US, Hong KongÆs Pacific Century CyberWorks, SingaporeÆs Creative Technology and Softbank of Japan. The investments have been made despite a ban on foreign investment in the Chinese internet industry.
Sina.com, whose listing plans have been put on hold following defections of senior staff to rival China.com which completed its Nasdaq listing three months ago, operates the worldÆs most popular Chinese-language portal. It has applied for a dual listing on the Nasdaq and Hong KongÆs new Growth Enterprises Market.
Chief executive Wang Zhidong said the company is delighted with the investments from leading companies in several strategic industries. The proceeds will support activities that further our mission to provide the highest-quality internet content and services to Chinese-language users globally, he said.
The investments are the third batch it has secured this year with two earlier exercises netting another $60m from companies including Goldman Sachs, Walden
International Investment Group and Singapore’s Economic Development Board.
