BEIJING, Feb. 7 (Xinhua) -- China Reading, the country's largest online publishing and e-book company, plans to raise up to $800 million in an IPO in 2017, IFR reported on Monday, citing people familiar with the plans.
China Reading, which is backed by China's biggest social network and online entertainment company Tencent Holdings, is selecting underwriters and is considering Hong Kong as a likely listing venue, according to the report from IFR, a Thomson Reuters publication.
The company, also known as Yuewen Group, hasn't set a total fundraising target, but the deal could range between $600 million and $800 million, one of the people told IFR.
China Reading was formed in 2015, when a Tencent unit took over Shanda Cloudary. (Global Times)
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