Tencent Tech, 6/27/11
An industry insider claims that Chinese P2P-based online TV operator PPStream (PPS) will IPO in the US in early July. Merrill Lynch and UBS will reportedly underwrite the IPO, in which PPS hopes to raise USD 100 mln. The source said that PPS would list after July 4. Thus far, however, PPS has not submitted an IPO application or prospectus to the SEC.
PPS president Xu Weifeng and PPS spokespeople declined to comment on the rumor.
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