People's Daily Online Prepares IPO
(Beijing) -- People's Daily Online Co., website operator of China's state-run newspaper People's Daily, plans to raise up to 800 million yuan in an initial public offering (IPO) in Shanghai, to become China's first publicly-listed online news portal.
According to People's Daily, the website operator plans to issue 40 million A-shares priced between 15 to 20 yuan per share. The company said that the funds raised will be invested in expanding the website services and the development of the company's wireless and online video capabilities.
- Central Bank Cuts Benchmark Lending Rate
- A Passage to India
- Hike in Train Ticket Prices This Year 'Unlikely After All'
- Graphics: Sino-Australian Trade Deal
- Another Hebei Official Is Targeted by Corruption Investigators
- Closer Look: Gov't Wants Proactive Tax Policies, but Ends Up with a Problem
- China-U.S. Investment Treaty Would Strengthen Economic Relations
- Top Prosecutor's Office Plans New Body to Better Fight Corruption
- Exercise Caution
- Book: Living Karma: The Religious Practices of Ouyi Zhixu
- Sign up to receive our free daily newsletter
- The Low Official Found with Towering Pile of Cash, Gold and Properties
- At Factory Waste Ponds, Fumes Choke Fantasies
- Some Shanghai FTZ Reform Ideas Introduced to Rest of Country
- Closer Look: Why Shanghai-Hong Kong Stock Connect Was One-Way Road
- Graft Busters Find another Cash Pile, but Family Denies Corruption
- Gov't Gives Academics Failing Grade for Fraud in Research Funding
- Canceled Mexican Rail Contract Gives Chinese Firms Chance to Reflect
- Justin Lin Ignores Population Factor with Growth Predictions
- Sixth NEA Official This Year Is Investigated for Corruption
- Civilized Liberties: What Matters in Preparing Gifts?