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SHANGHAI, China (AP) - A media company with ties to China's government-run Xinhua News Agency plans to raise up to $371.5 million in an initial public offering in New York, according to documents filed with the Securities and Exchange Commission.
Shanghai-based Xinhua Finance Media plans to sell 23 million American depositary shares on the Nasdaq Global Market at an estimated price of between $12 to $14 per ADS, the company said in a filing Thursday.
Underwriters have the option to buy up to 3.46 million additional shares from Xinhua Finance Media and existing shareholders, it said.
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