Did China Miss The Ipo Boat?
The timing stank: For months, the executives of Sina.com had pleaded with stubborn Beijing regulators to let their Chinese Internet portal raise capital in the U.S. by listing on Nasdaq. But the officials, determined to maintain their grip on the fledgling Internet industry, refused to budge. So Sina could only sit by helplessly as foreign investors shoveled money into rivals like Hong Kong's Chinadotcom Corp. and Pacific Century CyberWorks Ltd., which used their huge market values to snare deals and expand their franchises.
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