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The Daily Deal/Reuters: China's Red Flag Linux to fly IPO

Jul 31, 2000, 12:05 (2 Talkback[s])

"Red Flag Software Co., nurtured by the Chinese government's top science think tank and President Jiang Zemin's eldest son, says it aims to take China's Linux-based software operating system to the world."

"The company, controlled by the Chinese Academy of Sciences, has hired an adviser for an initial public offering, possibly on Hong Kong's Growth Enterprise Market (GEM), chairman Sun Yufang said. He declined to provide a timetable or identify the financial adviser for the listing."

"Jiang's eldest son, Jiang Mianheng, is vice-director of the Chinese Academy of Sciences, which holds about 60% of Red Flag Software."

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