Sina Tech, 3/03/14
In response to reports that the company has received investment from Chinese e-commerce conglomerate Alibaba Group, Chinese media company Wasu Media Holding (000156.SZ) has issued a statement, revealing that the company halted trading of its shares yesterday to make revisions to its planned 2014 non-public share issuance plan. The company is considering revisions as to how the raised funds will be used, and to which strategic investors the shares will be offered.
The plan is still in the negotiation phase, with Wasu waiting until all aspects of the deal are finalized before issuing an official announcement.
Editor's Note: For more background on this topic, please see "Rumor: Alibaba to Purchase 20% Stake in Wasu Media" MD 3/03/14 issue.