HONG KONG: China Literature Ltd, China’s largest online publishing and e-book company, launched an initial public offering for up to US$1.1bil, seeking funds for acquisitions and to expand its digital publishing business.
Tencent Holdings Ltd controls China Literature with a 62% stake. Private equity firm Carlyle Group LP owns 12.2% while Trustbridge Partners, a private equity firm founded by Shujun Li, the former CFO of Shanda Interactive, holds 6%.
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