Xinhua news website applies for Shanghai IPO

Xinhuanet.com, a news website operated by Xinhua, has applied to hold an initial public offering (IPO) on the Shanghai Stock Exchange, the China Securities Regulatory Commission (CSRC) said on its website.

It will be the second heavyweight state-controlled site to list on the mainland, after the news portal run by People's Daily, the Communist Party's mouthpiece, raised 527 million yuan (HK$648 million) in April last year.

via Business feed http://www.scmp.com/business/china-business/article/1122377/xinhua-news-website-applies-shanghai-ipo