CDC Corporation to Spin Off Software Subsidiary for IPO

CDC Corporation PR, 5/04/09

CDC Corporation (Nasdaq: CHINA) announced today that CDC Software Corporation, an indirect wholly-owned subsidiary of CDC Corporation that develops and distributes enterprise software, has submitted a registration statement to the U.S. Securities and Exchange Commission for an initial public offering of up to USD 80.0 mln aggregate principal amount of Class A Ordinary Shares.

The purpose of the offering is to allow CDC Software to more clearly differentiate its line of business from CDC Corporation and provide a more targeted investment vehicle for investors seeking to invest only in the enterprise software portion of CDC Corporation's diverse businesses. The offering is also intended to more-fully capitalize CDC Software, allowing it to expand sales channels, fund research and development activities and pursue its acquisition strategy.

Keywords: CDC CDC Software CHINA enterprise software IPO software

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