The online news portal of Chinese government mouthpiece, the People's Daily, has launched an initial public offering in Shanghai.

People.cn Co Ltd will sell 69.1 million shares through the IPO, it said in its prospectus posted on the Shanghai stock exchange website late on Wednesday.

Based the price range, the company will have enjoy a PE ratio of 46.13-51.89, a 5.15%-18.28% premium above the average industry level.

People's Daily Online will raise a minimum of 1380 million, a maximum of 1550million yuan via the IPO, 162%-195% higher than the planned 527million financing.

沪江英语快讯:人民网IPO成就官网第一股!人民网昨晚公告称,公司本次公开发行中网上资金申购发行的5530.5万股股票将于2012年4月27日起在上海证券交易所上市交易。人民网本次发行6910.57万股,发行后总股本为2.76亿股。发行价格为20元/股,对应市盈率46.13倍。人民网是《人民日报》建设的以新闻为主的大型网上信息交互平台,也是国际互联网上最大的综合性网络媒体之一。如果此次人民网上市顺利过关,将对新华网、央视网等官网上市产生重大借鉴意义。

沪江科普:IPO全名initial public offering,首次公开募股。指企业透过证券交易所,首次公开向投资者发行股票,以期募集用于企业发展资金的过程。公司在进行首次公开筹股时,需要投资银行公司作为承销商,来准确评估股票的价值,也就是股价。