Naspers stake in Beijing Media Corp: 9.9%

The South African business newspaper Business Day has more figures about Naspers and Beijing Media Corp:

Dual-listed media and entertainment group Naspers (NPN) announced on Monday that its subsidiary MIH will invest in the soon-to-be listed Beijing Media Corporation (BMC), a marketing and advertising sales vehicle for print media in China.   MIH will buy 9.9% in the initial public offering (IPO) of BMC, which will be floated on the Hong Kong Stock Exchange on December 22...

...BMC plans to raise approximately 677 million ... to 778 million Hong Kong dollars of new capital in the IPO.

Naspers said these funds were to be used to expand and grow the business into an integrated entity, taking advantage of the rapidly growing advertising market in China...

...Naspers has operations located in South Africa, Africa, Thailand, The Netherlands, Greece and Cyprus. In China the group also has interests in Internet group Sportcn while it has a 36% stake in Hong Kong-listed Tencent.

The Business Day story is here.