Tencent's reading group set the offer price range

According to Thomson Reuters' IFR report on Monday, Tencent (0700.HK) China's largest online literary platform - reading group set IPO (initial public offering) offer price range, to be raised to 1.1 billion US dollars.

Reported that the reading group plans to sell 151.4 million shares, the stock price range of 48-55 Hong Kong dollars per share, raising about 72.7-83.3 billion Hong Kong dollars.

The Group is principally engaged in paid online reading, copyright operation and paper book business. At present, Tencent has indirectly controlled a total of 65.38% of the issued shares through a number of wholly-owned subsidiaries. After listing, Tencent is still a subsidiary of Tencent. Other shareholders include the private equity firm Carlyle (CG.O), Trustbridge Partners.