AsiaOne vainly blows own trumpet as shares tumble in IPO.

Shares of AsiaOne, the internet arm of Singapore Press Holdings, fell in its first day''s trading, the victim of overambitious pricing and a skittish stock market.
June 04, 2000
A brazen piece of self-promotion disguised as a news article did nothing to help lift the shares of AsiaOne, the internet arm of Singapore Press Holdings, when its shares debuted on the Singapore Stock Exchange today. The shares fell as as much as 10% to S$0.54 from their offer price of S$0.60.

The decline came as SPH did its best to puff up the price. An article in the SPH-owned Singapore Straits Times that also appeared on AsiaOne's home page, trumpeted a 36% increase in AsiaOne's page views to 79 million in May from 58 million in April.

The article also cited a report by AC Nielson,...

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