The Beijing Youth Daily, China's second largest newspaper group, plans to begin marketing its US$100 million IPO in Hong Kong in November, following expected regulatory approval in late October, Dow Jones reported. Citing a source familiar with the IPO, the agency said HSBC and CITIC Capital were jointly sponsoring the sale of a 25% stake in the newspaper publisher. The sale will be a major development in the Chinese media industry marking the first time the country has opened the sector up to public ownership.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved