Not every Chinese internet company enjoys a pop in their share price during IPO.  ADS of NetQin, which provides mobile security services, dropped 19 percent from its offering price of US$11.5 in their debut Thursday on the New York Stock Exchange.

It is not a surprise.  The company had a major scandal just before it filed its IPO plan. Government- backed CCTV accused it of cooperating with mobile phone virus maker Feeliu.

Yesterday, its share dropped further to close at US$8.4.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Sherman So

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter...