Hong Kong’s Standard newspaper has a report on the imminent IPO of Beijing Media, the listed company that will be formed from Beijing Youth Daily’s advertising arm.
According to the report, Naspers will subscribe to about 40% of the shares available in the IPO.
Naspers is a South African media company that owns newspapers, Internet service providers and pay TV stations in Africa and Europe, Naspers also has a major stake in Tencent, the China-based company that provides the popular QQ messenging platform.
Naspers is listed on NASDAQ as well as on the Johannesburg Stock Exchange. The name Naspers is derived from the Afrikaans for National Press — Nasionale Pers.