Chongqing TV subsidiary seeks listing in Hong Kong

Television Asia: "Chongqing TV subsidiary seeks listing in Hong Kong
Central China�s Chongqing TV plans to list advertising subsidiary, Chongqing TV Media, on Hong Kong�s Growth Enterprise Market (GEM) later this year. Chongqing TV owns 60% of Chongqing TV Media, which is the exclusive advertising agent for three of its nine channels. The company also produces and distributes programming. Local reports quote Chongqing TV Media vice president, Wei Jiaxin, as saying that a Hong Kong listing will proceed faster than a domestic listing and will allow the company access to foreign capital. The company hopes to raise RMB300 million/US$36 million from the IPO. Foreign and private investment in the operational and editorial functions of broadcasters remains off limits. "