State-owned Liaoning Publishing and Media Company Limited was
approved by the China Securities Regulatory Commission on Tuesday
for an A-share initial public offering, making it China's first
wholly listed publication company, which will include both its
editorial and operational business in the listing entity.
The company plans to issue 140 million A shares, accounting for
25.41 percent of its total stock issue, it said in the draft
prospectus to the China Securities Regulatory Commission.
The proceeds will be invested in four projects, including the
setting up of a publication and designing company and the expansion
of a publication distribution company.
The capital used in the four projects is expected to be around
703.81 million yuan, said the company.
Four other publication companies, including Liaoning Children's
Publishing House and Liaoning Education Press, are also reportedly
expected to be injected into the listed entity in the future.
There are many other publication companies listed in China, such
as Xinhua Media and B-ray Media in Shanghai and Beijing Media in
Hong Kong, but they all have listed only their operational
businesses.
Analysts said Liaoning Publishing stands out from other listed
companies in this respect and is expected to attract many
investors.
(China Daily November 22, 2007)
