Aug 04, 2011
Chinese online video site operator Tudou Holdings Limited has filed an amended IPO with the US Securities and Exchange Commission (SEC) stating it plans to raise approximately USD 143.5 mln, by issuing 6 mln American Depositary Shares (ADSs) representing 24 mln Class B ordinary shares at USD 28-30 per ADS on the Nasdaq Global Market under the symbol "TUDO."
Cheng Hongrong, assistant to the GM of Hunan Broadcasting System subsidiary Kuaile Yangguang Interactive Entertainment Media, has disclosed that the company received approval from China's State Administration of Radio, Film and Television (SARFT) to develop an Internet TV broadcast and control platform, and officially received China's fifth Internet TV content service and Internet TV integrated service licenses in late July.
Beijing-based online game developer and operator Perfect World (Nasdaq: PWRD) today announced that it has entered into a definitive agreement to sell its film subsidiary, Perfect World (Beijing) Pictures, to Beijing Ever Joy Pictures, which is majority-owned by Michael Chi, Perfect World chairman of the board and chief executive officer, for a total consideration of RMB 360 mln.
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