Jan. 19, 2007 (China Knowledge) – Allyes AdNetwork, China’s largest online advertising firm, is planning to raise US$100 million with a listing on the tech-heavy Nasdaq in the first half of 2007. Morgan Stanley <MS> has been hired as the underwriter for the Shanghai-based provider of interactive marketing services, sources told Reuters. Both Morgan Stanley and Allyes have declined comment. Allyes’ clients include Tom Online <8282>, Dell Inc. <DELL>, as well as the Chinese Web portal Sina.com <SINA>, which is China's top Internet portal, according to a 2006 report from the Internet Society of China released on Jan. 10, 2007, The report also said that China’s Internet industry is set to grow, as Internet users in China spent a total of RMB 276.76 billion on services like Internet connections, online shopping and online games. An average user spent about RMB 179 per month, an 8% increase year-on-year from 2005. The rise in spending is due to the increasing number of Chinese getting online, from 111 million in 2005 to 136 million in 2006.
|