With an office set in a quiet neighborhood a few miles from downtown Dallas, there’s little to suggest that NQ Mobile Inc. is a foreign enterprise -- it’s Chinese -- or that it’s home to one of oddest corporate structures among technology companies.
As Omar Khan helped whip up 1,500 guests and employees gathered in a Beijing ballroom for NQ Mobile Inc.’s eighth birthday on Oct. 25, the co-chief executive officer himself had little to celebrate.
NQ Mobile Inc., a Chinese mobile services provider, spent six years preparing to go public. It took Muddy Waters LLC one hour to erase half of the company’s market capitalization.
Taiwan’s dollar strengthened after global funds added to holdings of the island’s stocks. Government bonds slipped.
Taiwan’s dollar fell to a one-week low before a finance ministry report that showed export growth cooled the most since 2009. Bonds were steady.
Taiwan’s dollar rose toward a five- month high on optimism the island’s economic growth will prompt global funds to add to holdings of local assets. Government bonds were steady.
"We consider the recent drop in NQ Mobile's share price to be artificially created by false allegations and we believe our stock to be currently undervalued."
- Henry Lin on Nov 12, 2013