21st Century Media Eyes Domestic Offering – SCMP

From The South China Morning Post, via Asia Media:

21st Century Media, the manager and publisher of the mainland’s leading financial newspaper 21st Century Business Herald, is planning a domestic initial public offering this year to fund expansion, media management sources said yesterday.

“They are hungry for money as they have set a very aggressive plan for business expansion [next year],” said one source. “They have been trying to go public to raise capital for more than a year and now it’s possible to list this year.”

It was not known how much 21st Century plans to raise although the sources expected the newspaper would raise “several hundred million yuan” through the IPO. [Full Text]

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