E-book firm to raise US$166m in IPO
HANWANG Techonology Co is expected to raise 1.13 billion yuan (US$166 million) with its initial public offering on the Shenzhen Stock Exchange, the Beijing-based e-book manufacturer and office electronics maker said yesterday.
HanWang will use the money on promotion to increase market share in the booming e-book market from rivals including Amazon and Sony, the company said.
"Reading is a basic demand of modern people just like food and clothes," Liu Yingjian, HanWang's chairman said. "The e-book provides people a green and environment-friendly choice."
HanWang plans to sell 27 million shares through its IPO with each costing 41.9 yuan. In 2009, the company's net profit was 85.28 million yuan, more than double the previous year's. But the net profit included an "i-phone" trademark transfer to Apple Inc, which paid 24.94 million yuan to HanWang for the trademark.
The global e-book market will grow more than 124 percent annually on average until 2013 and the market revenue will hit US$2.5 billion in 2013, according to US-based research firm NextGen.
HanWang will use the money in projects including e-book reader, handwriting recognition on portable devices and establishing national promotion platforms, HanWang said.
In 2009, HanWang's revenue was 581 million yuan. E-book sales accounted for 67 percent of income.
HanWang will use the money on promotion to increase market share in the booming e-book market from rivals including Amazon and Sony, the company said.
"Reading is a basic demand of modern people just like food and clothes," Liu Yingjian, HanWang's chairman said. "The e-book provides people a green and environment-friendly choice."
HanWang plans to sell 27 million shares through its IPO with each costing 41.9 yuan. In 2009, the company's net profit was 85.28 million yuan, more than double the previous year's. But the net profit included an "i-phone" trademark transfer to Apple Inc, which paid 24.94 million yuan to HanWang for the trademark.
The global e-book market will grow more than 124 percent annually on average until 2013 and the market revenue will hit US$2.5 billion in 2013, according to US-based research firm NextGen.
HanWang will use the money in projects including e-book reader, handwriting recognition on portable devices and establishing national promotion platforms, HanWang said.
In 2009, HanWang's revenue was 581 million yuan. E-book sales accounted for 67 percent of income.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.