Digital Reading Service Provider iReader Lists on Shanghai Stock Exchange
iHeima, 9/21/17
iReader Technology, operator of online digital reading app iReader, has officially listed on the Shanghai Stock Exchange on September 21 under ticker number 603533. The company has issued 41 mln new shares at RMB 4.05 per share, which will account for 10.22% of the company's total outstanding shares post-IPO. After the IPO, the company's total shares will come to 401 mln shares, with RMB 166 mln in funds raised.
iReader Technology founders Zhang Lingyun, Cheng Xiangjun, Wang Liang, and Liu Weiping hold 33.88%, 32.19%, 11.01%, and 7.62% stakes, respectively.
Funds raised from the IPO will be used to upgrade iReader's resource platform and technology platform, as well as for overseas development projects.
Editor's Note: According to iReader's investment prospectus, the company is engaged primarily in the provision of online digital reading services and value-added services. It maintains a digital library of copyrighted content from publishers, copyright operators, literature websites, and authors, and it offers digital reading products online. It also sells e-book reader hardware products and engages in joint game operation and advertising value-added services through its self-operated online platform. For more information on this topic, please see Digital Reading Service Provider iReader Wins Approval for IPO, MD 7/28/17 issue. iReader offers digital reading client software for various device types, including desktop, tablet, and mobile phone.
Keywords: mobile literature 603533.SH Zhang Lingyun wireless Wang Liang Internet IPO Liu Weiping iReader Cheng Xiangjun Internet online literature
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