Global EditionASIA 中文雙語(yǔ)Fran?ais
    Business
    Home / Business / Finance

    China Literature to seek HK listing approval

    By Ouyang Shijia | China Daily | Updated: 2017-10-10 08:46
    Share
    Share - WeChat

    China Literature Ltd, the online literature-focused arm of the mainland's tech conglomerate Tencent Holdings Ltd, reportedly plans to seek a listing approval in a hearing with the Hong Kong stock exchange this week, making a move closer to its scheduled IPO that is expected to raise $600 million to $800 million.

    According to the report by Thomson Reuters publication IFR, insiders close to the deal said if approved, China Literature would arrange premarketing next week.

    Last Friday, Tencent said in an official announcement that shareholders will be entitled to apply for China Literature IPO shares to the preferential offering on Oct 20. The register of members of the company will be closed on that date and no transfer of shares will be registered on the same day, according to the announcement.

    Earlier this year, Tencent said it would spin off China Literature and list the e-book publisher in Hong Kong. It would seek to hold at least 50 percent of China Literature's shares after the spinoff and the offering will consist of 15 percent of the company's enlarged share capital.

    The move also marks Tencent's ambition to monetize the potential in the booming online literature trend.

    Statistics from the iResearch Consulting Group show that an increasing number of Chinese now prefer to read e-books on mobile devices rather than PCs. It said 265 million Chinese read e-books via mobile devices, and 217 million will read e-books on PCs.

    "Reading is no longer confined by time and space. We're now entering a brand new age to embrace the online reading trend," said Zhu Jing, vice-president of China Literature.

    The online publishing subsidiary said it had 5.3 million writers and 8.4 million literary works at the end of 2016. In December 2016, it boasted 175.3 million monthly active users across the company's platform products and the self-operated channels on partner distribution platforms.

    Last year, the revenue of China Literature hit 2.6 billion yuan ($393 million), up by 59.1 percent from 1.6 billion yuan in 2015. And it also saw a significant jump of the gross profits to 1.1 billion yuan last year, with an 81.7 percent year-on-year increase.

    "Online literature will become the mainstream in the future," Dong Qianqiu, general manager of the literature division at iQiyi.com Inc, said during an annual entertainment conference in early June. "The internet not only works simply as a medium but appears fashionable, trendy. With more than 300 million users who love reading digital literature, the market is worth 10 billion yuan in China."

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    久久精品无码一区二区日韩AV | 亚洲精品无码不卡| 免费A级毛片无码A∨中文字幕下载| 东京热人妻无码一区二区av| 欧日韩国产无码专区| 中文字幕人妻无码专区| 天堂а√中文在线| 久久久人妻精品无码一区 | 久久精品中文无码资源站| 欧美无乱码久久久免费午夜一区二区三区中文字幕| 亚洲中文字幕无码中文字在线| 中文字幕亚洲情99在线| 日韩乱码人妻无码中文视频| 色综合久久久久无码专区| 中文字幕国产91| 中文字幕手机在线视频| 亚洲.欧美.中文字幕在线观看| 国产成人无码一区二区在线播放 | 在线日韩中文字幕| 一区二区三区无码高清| 67194成l人在线观看线路无码| 亚洲gv猛男gv无码男同短文| 无码精品A∨在线观看十八禁| 欧美中文字幕一区二区三区| 亚洲一级特黄无码片| 久久久久久国产精品无码下载| 无码无套少妇毛多18PXXXX| 岛国无码av不卡一区二区| 最好看的电影2019中文字幕| 亚洲一区精品中文字幕| 久久超乳爆乳中文字幕| 中文字幕无码一区二区免费| 亚洲午夜无码AV毛片久久| 亚洲AV无码乱码在线观看牲色 | 亚洲一区无码中文字幕| 伊人久久大香线蕉无码麻豆| 蜜臀精品无码AV在线播放| 精品无码国产自产拍在线观看蜜| AV无码精品一区二区三区| heyzo专区无码综合| 久久伊人中文无码|