DangDang CEO and “Morgan Lady” fighting on micro-blog
E-Commerce China Dangdang (Dang) is identified as “The Amazon of China”. On December 7,2010, the company raised $272 million by offering 17 million ADSs at $16, above the range of $11-$13. Credit Suisse (CSGN.VX) and Morgan Stanley (MS.N) acted as lead managers on the deal. It closed at $33.43 in the last trading day of its quiet period, more than double its offering price. That left the online store with a market cap just over $2.5 billion.
Dangdang CEO Mr. Guoqing Li shall be very happy now, however, it seems he is getting trouble in China microblog. In SINA microblog, he hinted that Morgan Stanley “fooled” DANG during IPO with some violent words and he might Fxxx off something after “silent period”. The interesting thing is that an unverified micro-blogger, seemingly a Morgan Stanley lady in this deal, fight him back with strong swear words in this Sunday afternoon.
Here are some tweets in English:
Mr. Li : You bastard know the price of $16 per ADS is very low before IPO, I m gonna fxx you off after silent period.
Morgan Lady: …be careful, you will died for making false accounting…rubbish, you definitely will be kicked off the board… You really shall pay off your utility fee now… … why cannot you be listed in China? Because you only can cheat some who are far away from you…
Advice to both sides:
Yes, you surely can share your personal things or thoughts through twitter or other SNS, even you can say lots of F words to show how MANful you are, but you cannot mix yourself with your business branding in the virtual world. It’‘s about time for Mr. Li and Morgan Stanley to declare about the accusation of false accounting.
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