Thursday, May 13, 2010

Xinhua Finance Faces Delisting in Tokyo

It has been a long, unfortunate ride down to the bottom for Tokyo-listed Xinhua Finance. Reuters reported yesterday that the company is now facing delisting due to the continually delayed release of its 2009 results.

It was once one of the more interesting and entrepreneurial business media companies in Asia. Founded by Fredy Bush in 1999, the company was primarily focused on providing business and financial information on companies operating in China. Through acquisitions, the company built portfolio products and services including financial ratings, indices and data.

Then everything seemed to come undone. In 2008, the company sold off most of the companies it had acquired just a few years earlier, revenues plummeted, Fredy Bush resigned and left the company altogether - although she maintains some ownership. With a delisting in the works and the law suits that will certainly follow, its seems the company's troubles are far from over.

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