XINHUA FINANCE TO LIST ON NASDAQ SOON
AsiaInfo Services, March, 2007
AsiaInfo Services 03-05-2007 Xinhua Finance to List on Nasdaq Soon BEIJING, Mar 05, 2007 (SinoCast via COMTEX) -- Xinhua Finance Limited, a leading financial news services and media company in China, filed to raise USD 371.5 billion in an IPO on the US Nasdaq stock market. The company will become the first Chinese media firm to list in US. The Shanghai-based financial news service provider is planning to offer 23 million American Depositary Shares at an expected price of USD 12 to USD 14 each as well as 136.6 million tradable shares, according to its prospectus. The company reported 2006 net profit of USD 3.30 million and revenue of USD 59 million. A 9 percent decline of Shanghai Composite Index on February 27 drove the Dow Jones Industrial Average to tumble...
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