SRS Postpones Valence IPO in Hong Kong

SRS Labs Inc. in Santa Ana said Friday that it is postponing plans to take its Valence Technology Inc. subsidiary public in Hong Kong. SRS, which provides audio and voice technology products, said it decided to delay the initial public stock offering after Asian investors were less enthusiastic than expected. SRS acquired Valence in March 1998 to gain access to markets in China, particularly for video CD machines used in karaoke.