Friday, November 05, 2010

News this week: China Publishing Group completes Shanghai IPO

Shanghai, 28th October: China South Publishing and Media Group, a state-owned Hunan-based company involved with the printing, publishing and distribution of various media, has completed its initial public offering in Shanghai raising an estimated US$264 million.

Founded in December 2008, China Publishing Group follows a series of mainland publishers venturing into the capital markets such as Time Publishing and Media Group, and Xinhua Media. The company issued a total of 398 million shares at a price of RMB10.66 (US$1.6) per share with a PE ratio of 41. The listing was on the Shanghai Stock Exchange. The stock closed at the end of the first day at RBM13.80.

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