This may be some kind of record in the IPO world. CDC Software had its initial public offering on August 6. On September 8, it announced a purchase of American Depository Shares. Management had already begun purchasing ADS at an average price per share of roughly $8.33 starting on August 13. The company issued a statement that it believes its shares are undervalued, especially since it had reported a 311 percent in improvement in operating cash flow and had improved margins to 27 percent for the second quarter ended June 30, compared to 17 percent a year earlier. The company's former parent, CDC Corp., still owns the bulk of the stock. CDC Software's products include Ross Systems and Pivotal. CDC SOFTWARE GOES PUBLIC; BUYS SHARES
This may be some kind of record in the IPO world. CDC Software had its initial public offering on August 6. On September 8, it announced a purchase of American Depository Shares. Management had already begun purchasing ADS at an average price per share of roughly $8.33 starting on August 13. The company issued a statement that it believes its shares are undervalued, especially since it had reported a 311 percent in improvement in operating cash flow and had improved margins to 27 percent for the second quarter ended June 30, compared to 17 percent a year earlier. The company's former parent, CDC Corp., still owns the bulk of the stock. CDC Software's products include Ross Systems and Pivotal. 