By Bose Chan
It looks like Facebook isn’t the only giant looking for more IPO pie to eat. Not wanting to be alone in the goldmine rush, the Chinese have their own plans in sweet Shanghai.
China’s People’s Daily news portal has launched a $83.6 million (527 million yuan) initial public offering in Shanghai, and will announce their final pricing on April 20th. The Chinese government controlled company have the intention of upgrading their technology, delivering news on mobile platforms and strengthening its editorial team.
Apparently such ideas of expansion are supported by the big bosses on top in Beijing as part of their efforts to grow more control over China’s media holdings and what comes with it – bigger money. Why isn’t anyone surprised?