By Pia Heikkila, 3 September 2001 15:21
NEWS NetObjects, a US-based web management tool company part-owned by IBM, has shut down its operations. The company, in which IBM holds a 48 per cent stake, has experienced cash flow problems in recent months. It announced two weeks ago it would not have enough cash to continue its operations. The company said last Friday it will be delisting from Nasdaq having failed to attract investors enthusiasm as its trading price stayed below the required $1 minimum. NetObjects shares were trading at $45.69 last March but plummeted to 28 cents on its last day on the Nasdaq.
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