HONG KONG Feb 6 China Reading, the country's
largest online publishing and e-book company, plans to raise up
to $800 million in an initial public offering 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 firm Tencent Holdings Ltd
, is in the process of selecting underwriters for the
IPO and is considering Hong Kong as a likely listing venue,
added IFR, a Thomson Reuters publication.
The company, also known as Yuewen Group, hasn't yet
finalised a total fundraising target, but the deal could range
between $600 million and $800 million, one of the people told
Tencent didn't immediately reply to a Reuters request for
comment on the China Reading IPO plans.
China Reading was formed in 2015, when a Tencent unit took
over Shanda Cloudary.
(Reporting by Fiona Lau of IFR; Writing by Elzio Barreto;
Editing by Kim Coghill)