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INTERVIEW-Phoenix Satellite TV says aiming to list 2 units

Published 09/14/2010, 05:23 AM
Updated 09/14/2010, 05:28 AM

TIANJIN, China, Sept 14 (Reuters) - China-focused broadcaster Phoenix Satellite Television Holdings Ltd <2008.HK> is aiming to list two of its fast-growing units as soon as early next year, with an eye on its own secondary listing in China to capitalise on its strong name recognition there, its chairman said on Tuesday.

The company would like to list its new media division, most likely in New York, and could list its LED outdoor advertising unit on China's year-old Nasdaq-style enterprise board ChiNext, at around the same time, Chairman Liu Changle told Reuters in an interview at the World Economic Forum in China.

He added that Hong Kong-listed Phoenix would like to make its own secondary listing by offering China Depositary Receipts for a planned international board that would likely be set up in Shanghai by the local stock exchange.

"Phoenix has entered a high-speed stable stage in its development," said Liu, a former military affairs reporter with a background in broadcasting. "We think we'll have some good numbers to show at our 15th birthday in March 2011." (Reporting by Doug Young; Editing by Chris Lewis)

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