XIAMEN FIT IMPORT & EXPORT CO., LTD.
Novel Tongfang eyes US$400mln from NYSE IPO
click rate:2315 issue time:2007-03-10 08:12


Jan. 26, 2007 (China Knowledge) – Beijing Novel-Tongfang Information Engineer, a digital television device maker partly controlled by Tsinghua University, plans to raise as much as US$400 million with an IPO on the New York Stock Exchange (NYSE), sources told the South China Morning Post.


Beijing Novel was set up in 2001 as a joint venture between Tsinghua Novel and Tsinghua Tongfang <600100>. The latter is a Shanghai-listed information and biotechnology company, while the former is owned by Tsinghua University and Hong Kong's Novel Group.


Liang Zhangwen, Beijing Novel's secretary of the board, said he was not aware of any fund-raising plan from Novel-Tongfang.