21st Century Media eyes Mainland IPO
click rate:3050 issue time:2007-03-10 08:12
Mar. 9, 2007 (China Knowledge) – 21st Century Media, the manager and publisher of the mainland's leading financial newspaper 21st Century Business Herald, is planning a domestic IPO this year to fund expansion.

Highly needed funds will be used for an aggressive business expansion plan for next year, media management sources told the South China Morning Post on Thursday, adding that IPO plans were already in place for more than a year.

Part of the expansion plans includes publishing its flagship newspaper, 21st Century Business Herald, from three issues per week to every day, said sources.

It is unknown how much the 21st Century is targeting to raise with the IPO, although sources have estimated that the newspaper would raise “several hundred million RMB”.