China’s Phoenix New Media aims to raise $179m in the US
China media group Phoenix New Media has targeted a $178.7 million raise on its impending public listing on a US bourse, and is specifically looking to sell 12.8 million American depositary shares between $12 to $14 each, according to a filing with the U.S. Securities and Exchange Commission.
The company has operated under Hong Kong-listed TV station Phoenix Satellite Television but will spin-off from its parent in order to list on the New York Stock Exchange. The Hong Kong-based company...
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