Chinadotcom Corp says it plans to spin out its mobile and portal operations as a separate quoted company called Chinadotcom Mobile Interactive Corp to enable it to raise its own funds. It says an offering of shares in the new operation is likely in the first half of 2004.
In effect, the company is divesting itself of its legacy business. After the collapse of the dot-com bubble, Nasdaq-quoted Chinadotcom re-invented itself with a software subsidiary CDC Software subsidiary, which aims to become a major force in ERP applications, and a software outsourcing operations that gives Western companies access to Chinese developers.
This article is based on material originally produced by ComputerWire.