MCLC: China Reading ipo

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China Reading ipo
Source: Sup China (7/6/17)
More money for ... online literature
By Jeremy Goldkorn
Tencent — the internet behemoth behind WeChat — runs a digital literature publishing company called China Reading, which has begun filing for an initial public offering (IPO) in Hong Kong, proposing to raise $600 to $800 million. It would be the first listing of a company dedicated to internet literature.
China Reading was originally a company owned by Chinese games giant Shanda. According to TechNode, “China Reading logged $390 million (RMB 2.6 billion) in operating income last year, 77 percent of which came from its reading-related businesses.” The company had around 175 million users at the end of 2016.
by denton.2 at osu.edu on July 7, 2017
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