Chinese bookstore chain seeks $274 million from IPO
State-owned company Xinhua Winshare is marketing itself as a market consolidator as the tightly controlled publishing industry undergoes deregulation.
Sichuan Xinhua Winshare Chainstore yesterday kicked off the roadshow for the institutional portion of its initial public offering, which aims to raise between HK$1.66 billion and HK$2.2 billion $213 million-$274 million.
A member of the state-owned Xinhua Bookstores group, this will be the first book store operator to list in Hong Kong and will offer exposure to ChinaÆs highly regulated book publishing and distribution industry at a time when it is undergoing extensive market-opening reforms.
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