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Zhang Jiahao's $150 million investment in China TV to help it go public in the US
Create_time：2014-06-04 Views：311
On 1st June, a press conference was held in Beijing to announce that famous investor Zhang Jiahao had taken a stake in China TV. Since then, the man behind the rumoured US listing of China TV has surfaced.
Capital Majors' $150m bet on China TV's US IPO
Famous investor Cheong Ka Ho and China TV's Chairman Wong Ah Yuen signed a $150 million stake in China TV on the spot. At the meeting, Chairman Wong Ah Yuen explained the development trajectory of Chunghwa TV and its path to IPO. Chunghwa TV was officially launched on 28th March 2008 and is a mainstream media approved by the Macau SAR Government of China, holding six channel licences and using AsiaSat 5, which covers Mainland China and five continents around the world.
At the beginning of its establishment, China TV planned to list on NASDAQ at the end of 2009 and the beginning of 2010, but for various reasons, it failed to do so. Although China TV has invested 600 million in its operation since its establishment, there is still a gap between China TV and Phoenix TV, which obtained a licence at the same time. The successful listing of Phoenix TV has put it on a fast track of development. This has also strengthened China TV's confidence in going public.
On 10 April 2012, China TV's Chairman of the Board of Directors, Mr. Huang Ah Yuan, and the President of Red Chip USA, Mr. David, signed a contract for the listing of China TV in the United States at China TV's subsidiary in Beijing," said Mr. Zhang Jiahao. This marks the listing of China TV on the agenda. The U.S. investment bank will conduct a series of listing counselling for China Satellite TV after the signing." The reporter asked how many shares of China Satellite TV this injection of 150 million, Zhang Jiahao did not give a positive answer, but said that in the future, China Satellite TV will be involved in all important decisions.
Link to original article:http://news.china.com.cn/shehui/2014-06/04/content_32569743.htm
