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Beijing Youth Daily to IPO?Posted by Jeremy Goldkorn, July 21, 2004 10:12 AM
The Financial Times and the South China Morning Post both report on Beijing Youth Daily's plans to float on the Hong Kong stock exchange to raise HKD500 million to one billion. The meat of the stories is reproduced below. Neither of the articles addresses what is sure to become an issue once Mainland media entities start listing on foreign markets: will foreign companies start suing for IPR violations? In the case of the Beijing Youth Daily, perhaps OK and Hello magazines might start taking an interest... But back to the Beijing Youth Daily IPO: The SCMP says this: The newspaper publisher, founded by the Communist Youth League and controlled by the Beijing municipal government, had originally planned to raise up to 1.5 billion yuan on the Shanghai Stock Exchange early next year. The Financial Times adds some analysis to the story: The General Administration of Press and Publication declined to give details of whether there were plans to allow direct foreign investment in newspaper operations. “The content of the news publication reform trial is secret, we cannot freely release it to outsiders,” an administration official said on Tuesday. The FT story is here, the SCMP story is on Asia Pacific Media Network here. |
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