Phoenix Satellite Television Subsidiary Launches A-share IPO
Jan 09, 2013 (SinoCast Daily Business Beat via COMTEX) --
According to the official website of the Beijing Municipal Environmental Protection Bureau, Phoenix Metropolis Media Technology Co., Ltd plans to kick off IPO on A-share market and is going through environmental protection verification now.
The verification result will be announced between January 6 to January 10, indicating the company is near to listing.
According to introduction, the operating screen of Phoenix LED Media Network, the main business of Phoenix Metropolis Media, has surpassed 14,000 square meters in area. The network is established in important, notable and resource scare core areas, covering 26 landmarks, 40 business districts, 82 arteries and gaining access to 35 million daily urban users of 16 most important inland cities.
According to the 2011 financial report of Phoenix Satellite Television Holdings Limited (SEHK: 2008), the revenue from outdoor business reached HKD 397 million and net profit, HKD 85.1 million, which basically reflects the performance of Phoenix Metropolis Media.
Source: www.cnstock.com (January 09, 2013)
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