Wasu Media to Inject Broadband Business into Listco
21st Century Business Herald, 12/20/12
On December 18, Hangzhou-based cable DTV and IPTV operator Wasu Digital Television Media Group subsidiary Wasu Media Holding (000156.SZ) issued a public filing stating that it would suspend trading of its stock from December 18 to December 24 for plans to issue a non-public offering of shares. The filing did not say for what funds raised through the offering would be used.
"The details of the offering plan are still under discussion by the company board," Wasu VP Zha Yong said. "But the funds raised will definitely not be used for the integration of provincial networks. Rather, as promised before Wasu listed, we will be absorbing cable broadband and other Wasu businesses into the listed company." At present, Wasu has only absorbed its Hangzhou cable television services and national new media services (interactive TV, internet television, and IPTV) into the listed company.
According to a report from BOC International, Wasu's 2011 ARPU was RMB 47, roughly 1.5 times that of other cable network operators' ARPU. ARPU for Wasu's cable broadband services is even higher, at RMB 60 or above.
In October 2011, Wasu undertook a backdoor listing on the Shenzhen Stock Exchange through the Hunan Genuine New Material Group.
Editor's Note: For more background on this topic, please see "Genuine New Material Changes Name to Wasu Media Holding" MD 10/10/12 issue.
Keywords: Internet television DTV cable broadband Wasu Genuine New Material 000156.SZ Wasu Media Holding Zha Yong cable TV
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