The online news portal of the official Communist Party of China newspaper People's Daily plans to raise about 527 million yuan ($83.52 million) through an initial public offering (IPO) on the Shanghai Stock Exchange.
People.cn Co, which competes with commercially operated rivals, such as Sina Corp and Sohu, aims to raise cash by selling 69.1 million new shares, or 25 percent of its enlarged capital base, to fund expansion, according to a preliminary prospectus posted on the website of China's securities regulator.
The China Securities Regulatory Commission will vet People.cn's IPO application on Friday.
Beijing is encouraging IPOs by State-owned news websites.
China's State news agency Xinhua also plans to list its online portal in Shanghai to raise about 1 billion yuan, media reports said earlier.
People.cn faces "big challenges" from commercial websites, such as Sina and Sohu, which have benefited from the opening of the Internet services industry as well as ample funding, according to the prospectus.
People.cn, which is controlled by People's Daily and counts State-owned telecommunications giants, including China Mobile, China Unicom and China Telecom, among its shareholders, plans to use the IPO proceeds to upgrade technology, develop mobile services and strengthen its editorial team.
Its net profit almost quadrupled to 81.6 million yuan in 2010 from a year earlier, with online advertising contributing to about half of the company's revenue.
CITIC Securities Co is underwriting the IPO.
Questions:
1. What is the name of the news portal?
2. How much do they plan to raise through an IPO?
3. Who is underwriting the IPO?
Answers:
1. People.cn
2. 527 million yuan
3. CITIC Securities Co
2015年GMAT句子改错练习题及详细解析(16)
2015年GRE考试模拟预测题(四)
2015年GMAT句子改错练习题及详细解析(10)
2014年新GRE阅读理解模拟练习题五
2013年GMAT考试最新逻辑推理试题训练汇总
2015年GMAT句子改错练习题及详细解析(11)
2013年GMAT考试最新逻辑推理试题训练八
2015年GMAT句子改错练习题及详细解析(17)
2015年GRE写作模拟题(3)Argument
2015年3月19日北美GRE考试高频阅读题目
2015年GMAT句子改错练习题及详细解析汇总
2015年GMAT句子改错练习题及详细解析(13)
2015年GMAT句子改错练习题及详细解析(5)
2013年GMAT考试最新逻辑推理试题训练九
2015年GMAT句子改错练习题及详细解析(8)
2015年GMAT数学经典试题及答案解析(2)
2014年GRE考试填空题模拟练习4
2015年GMAT句子改错练习题及详细解析(1)
2015年GRE写作模拟题(5)Argument
2015年GMAT语法考试模拟试题
2013年GMAT考试最新逻辑推理试题训练十五
2015年新GRE数学真题之105道易错题
2015年GMAT句子改错练习题及详细解析(7)
2015年GMAT句子改错练习题及详细解析(9)
2015年GMAT句子改错练习题及详细解析(3)
2013年GMAT考试最新逻辑推理试题训练七
2015年GMAT句子改错练习题及详细解析(6)
2014年GRE填空最新备考练习题及答案1
2014年GRE考试填空题模拟练习3
2013年GMAT考试最新逻辑推理试题训练十一
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |