PPS Planning IPO on GEM Board
Techweb, 9/15/10
Shanghai-based P2P video service provider PPS (PPStream) plans to IPO on a growth enterprise market (GEM) exchange, according to a source in VC circles. All preparations have reportedly been made and the IPO is expected this year.
A source within the company said PPS originally planned to list on the Nasdaq exchange but the the requirements were too stringent. Instead, PPS applied for and received approval to list A-shares within one month, and will likely beat rivals Youku and Tudou to the marketplace.
President Xu Weifeng said PPS' revenue will reach RMB 200 mln this year, with profit over USD 5 mln.
Editor's Note: Xu told Sohu IT that PPS has not determined when or where it will IPO. Xu added that PPS has put IPO plans on its agenda but has yet to select a market, and will not be able to list before the end of the year.
Keywords: Xu Weifeng Internet IPO Nasdaq profit revenue PPStream Tudou Youku GEM P2P online video A-share
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