BIZCHINA / Top Biz News

Konka Group plans overseas listing
(Shenzhen Daily)
Updated: 2006-04-06 15:24

Shenzhen-based television maker Konka Group Co. is considering listing shares overseas to boost the popularity of its brand, a company executive said.

"It's possible (the company will list abroad) within one year. It's possible within three years," said Yang Guohe, president of Konka's international business division, on Tuesday.

Increasing the brand's popularity is more important than raising funds as a reason for a possible overseas listing, Yang said.

Yang said the location of the possible listing hasn't been decided. He declined to say how much Konka aims to raise from such a share offering.

Konka already lists yuan-denominated A shares and Hong Kong dollar-denominated B shares in Shenzhen.

In the first nine months of 2005, the Shenzhen-based company, which also makes mobile phones, posted a net profit of 34.9 million yuan (US$4.31 million) on core revenue of 8.01 billion yuan, according to Chinese accounting standards. Konka hasn't yet released its full-year 2005 financial report.

Konka's A shares were 0.92 percent up to close at 3.3 yuan yesterday, while the firm's B shares rose 0.38 percent at HK$2.66.


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