Phoenix Applies for HK Main Board Listing
HONG KONG, Sep 25, 2008 (SinoCast via COMTEX) --
Chinese TV broadcaster Phoenix Satellite Television Holdings Ltd. (SEHK: 8002) said yesterday that it expected to have its shares listed on the Main Board of Stock Exchange of Hong Kong, and filed an application with the bourse.
The company went public on the Growth Enterprise Market of the Hong Kong bourse on June 30, 2000. It will not sell any new shares in the listing transfer and its business will not be impacted.
Phoenix expects the listing transfer to help enhance the corporate image of its subsidiaries and itself and improve the liquidity of its shares, as well as benefit its futures growth, financing flexibility and business development.
Phoenix has been trying to diversify its businesses in recent years. It now operates five channels, including Phoenix Chinese Channel, Phoenix Movies Channel, Phoenix InfoNews Channel, Phoenix North America Chinese Channel and Chinese News and Entertainment Channel, as well as a magazine Phoenix Weekly and a website ifeng.com.
The company previously posted net profits of HKD 173 million for January-June 2008, soaring 21.9% from a year ago.
From www.nbd.com.cn, Page 1, Wednesday, September 24, 2008 info@SinoCast.Com
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