HONG KONG (July 4): China Literature, a Tencent Holdings unit and the country's largest online publishing and e-book company, has filed for a Hong Kong initial public offering that is expected to raise as much as US$800 million ($1.1 billion).

The deal is also boost for the Hong Kong bourse, which has failed to attract a significant volume of technology deals despite being the world's top destination for new listings in 2016.

The company, which is looking to raise funds for potential acquisitions and expand its mobile reading business, has hired Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley as sponsors of the offering, it said in a filing late on Monday.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook