A Price Plunge and Liquidity DroughtFew Latin American Internet companies managed to issue equity before the markets slammed shut a year ago. Those that did were hit by the subsequent collapse in the stock market, which punished investors. Argentina's El Sitio, one of the worst performing Latin Internet stocks, has lost 97% of its value since its initial public offering in December 1999. The Internet service provider, which operates throughout Latin America, raised $131 million through its IPO, which was oversubscribed 30 times.
El Sitio's share price rose to a high of $44.88 soon after launch, but had plummeted to $1.16 per share by this Mar
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