PPG Receives $30 Million Venture Funding, Plans IPO in 2009


Chinese men’s formal wear direct retailer PPG told the local media today that it has recently raised $30 million in venture funding and is planning to launch its NASDAQ IPO before Q1 2008. In addition, the company said it will launch its US branch in California around the end of March 2008, through which PPG will follow its existing business model in China.

VisionChina Media Debuts on Nasdaq, Raises $108 Million


Chinese out-of-home advertising firm VisionChina Media (NASDAQ:VISN) debuted on NASDAQ yesterday and raised $108 million from the IPO. Founded in 2004, VisionChina ‘s advertising network consists of 33,000 TV displays and covers 14 cities in China.

Worksoft Creative Technology Plans IPO to Raise $72 Million


Chinese IT outsourcing company Worksoft Creative Technology (WCT) announced today that it has received approval by the SEC to issue its American Depositary Shares (ADS) on NYSE. According to WCT, the IPO will be priced between $7.5 and $9.5 and raise up to $72.7 million.

PCOnline to Issue IPO on Hong Kong Stock Exchange


According to Hong Kong media, Chinese Internet portal company PCOnline is planning for its debut on the Hong Kong Stock Exchange. The IPO will raise approximately $100 million. Founded in 1997, PCOnline now owns 6 Internet portals, each covering a specific topic including fashion, games, automobile and IT.

BYD Plans to Spin off Mobile Phone Business

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Local media reported today that Hong Kong listed BYD has submitted an application to the Hong Kong Stock Exchange to spin off its mobile phone business by the end of 2007. The report estimates the transaction will help raise up to $13 million.

Telstra to Spinoff SouFun.com


Australian telecom company Telstra announced yesterday that the company is planning on the spinoff of Chinese subsidiary soufun.com in 2008. In 2006, Telstra acquired a 51% stake in the Beijing-based real estate portal for $254 million.

Alibaba Shares Surge by 192% on Hong Kong


Shares of Chinese Internet company Alibaba (HK: 1688) started trading on Hong Kong Stock exchange today and closed at HK$ 39.5, up by 192% compared to the offering price. At an Interview with local media, Alibaba’s CEO Yun Ma says he is not pressured by the high stock prices as the company serves a large market in China.

AirMedia Applies for NASDAQ Listing


According to local sources, advertising firm AirMedia has submitted an application to list on NASDAQ and raise approximately $100 million from the IPO. Founded in 2005, the Beijing-based company provides clients advertising services at 52 airports and on nearly 2,000 flight routes.

NetDragon Reported to Debut on Hong Kong Stock Exchange in November


According to Hong Kong media, Chinese game publisher NetDragon is in the process of launching its IPO on the Hong Kong Stock Exchange in November. This follows other high-profile game publishers in China that plan to go public including Giant Interactive and 9you.

Alibaba Reported to Devote IPO Proceeds to Acquisition


According to the Hong Kong media, Chinese online B2B site Alibaba will devote up to 60% of its IPO proceeds for merger and acquisition. It is estimated that the soon-to-be launched IPO will raise more than $1.3 billion, however, since 73.5% of the issued shares are owned by the parent company, the net proceeds will be in the $300 million range, resulting in approximately $180 million devoted to M&A.

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