Facebook may raise $5 billion in its IPO, and the company may reach an estimated value of $75 billion. Today I read that People's Daily Online has recently filed for an IPO in Shanghai. Their IPO looks a little different. They only plan to raise about RMB 560 million (~$87 million), and their IPO will only be available to Chinese domestic investors, save those few qualified foreign institutional investors who have received special permission to play in China's financial sandbox.
One neat thing Caixin notes in its report, People's Daily Online gets more than 20% of its income through government contracts. Given that this is the flagship publication of the Chinese Communist Party Central Committee, one might expect that Party involvement in the organization goes beyond such contracts.
We've all heard of Mark Zuckerberg. Good looking dude, had a flick made about him, has a huge effect on the planet's social landscape.
Have you heard of Liu Yunshan, Director of the CCP's Propaganda Department? He may be good at overseeing the publicity machine of the Party, but he ain't no Mark Zuckerberg.
How does the publicity machine of the party prosper or even maintain its relevance in this day and age?
In 5 years, which stock do you think will have increased in value more?