(Yicai Global) June 21 -- The Chinese market for e-reader devices and online publishing is attracting significant funding from investors and businesses alike.
Publisher Zhangyue Technology Co., operator of the iReader Plus mobile reading platform, plans an almost CNY1.05 billion initial public offering of 40 million shares on the Shanghai Stock Exchange, accounting for 10 percent of its capital.
The Beijing-based company's iReader has more than 500 million registered users and 78 million monthly active users. Last year, the company had the biggest share of the Chinese e-reader market as measured by both indicators.
As the nation's online and mobile publishing industry experiences exponential growth businesses including Tencent Holdings Ltd. [HKG:0700], Baidu Inc. [NASDAQ:BIDU], Alibaba Group Holding Ltd. [NYSE:BABA], and JD.Com Inc. [NASDAQ:JD] have all moved into the field.