SK Net Service Company Ltd: Ray media got the huge loans to prepare for listing A stock
This IT news is provided from the SK Net Service Company Ltd
After the separation from Hurray Ray Media tried to find another channel for going on market independently. Yesterday, the media announced that it has accessed more than 100 million yuan loan from Bank of Beijing to prepare for the re-listing. According to the media CEO Ray Wang Changtian that money will be used mainly for TV programme production and construction of a national TV network. Wang Changtian also admitted that huge line of credit is calculated in accordance with normal commercial interest. This is bound to make light media access to the high cost of operating funds. Wang Changtian revealed that there are several domestic yuan fund for the light of the recent private placement the first time to compete. "Ray media has been locked in the domestic A-share listing, is expected this will be the first time is listed before the last private placement." Previously, Ray Media had tried to go public in Nasdaq by seizing the chance of merger with Hurray. But in ess than half a year, the two sides “broke up". Commenting on the change of listing A-share domestically, Wang Changtian said business of ray media was all in China, only domestic investors have a good understanding of the company. At the same time, the nature of light industries has also decided that only A-share be listed in the domestic market , does it conform to the interests of shareholders.