Posted by: mulrickillion | January 15, 2012

Unit of Chinese Daily Plans I.P.O.

By David Barboza, Jan 14, 2012 –  SHANGHAI — The online division of the People’s Daily, the official mouthpiece of the Communist Party, won approval on Friday to go ahead with an initial public offering of stock.

The decision by China’s top securities regulator paves the way for the People’s Daily online to raise up to $85 million by selling stock on the Shanghai Stock Exchange, most likely this year. 

It is the first time a state-run media Web site has filed to go public, and it is expected to be followed by public offerings from an array of other state-run media properties, including Xinhua, the official news agency. . . .

Unit of Chinese Daily Plans I.P.O. – NYTimes.com

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