Jul 02, 2014 06:02 PM

Xinhuanet May Not Enjoy Same IPO Success as People's Daily Online, Analyst Says

By staff reporter Liu Ran

(Beijing) – The planned initial public offering of Xinhuanet may not be as warmly received by investors as that for People's Daily Online, another state-backed online media firm that went public two years ago, an analyst familiar with the companies says.

Xinhuanet, the website of Xinhua News Agency, will be the second government-sponsored news website to go public in China. It announced its IPO plan on June 27, saying it would list on the Shanghai Stock Exchange with an aim to raise 1.5 billion yuan by issuing 51.9 million shares.

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