Chinese IPOs

Phoenix Publishing raises $705 million from Shanghai IPO

The Chinese publisher raised the equivalent of $705 million at the high end of its indicated price range, showing that investors in China still have a good appetite for new stocks.

Lillian Liu

November 25, 2011

Tan Yue, chairman of Phoenix Publishing, holds up a trophy at the CCTV China Economic Figures awards ceremony in Beijing (ImagineChina)

Phoenix Publishing & Media, a leading publishing group in China, raised Rmb4.47 billion ($705 million) from its Shanghai initial public offering yesterday, after fixing prices at the top end of an indicated range.

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