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

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.

滬江英語快訊：人民網IPO成就官網第一股！人民網昨晚公告稱，公司本次公開發(fā)行中網上資金申購發(fā)行的5530.5萬股股票將于2012年4月27日起在上海證券交易所上市交易。人民網本次發(fā)行6910.57萬股，發(fā)行后總股本為2.76億股。發(fā)行價格為20元/股，對應市盈率46.13倍。人民網是《人民日報》建設的以新聞為主的大型網上信息交互平臺，也是國際互聯(lián)網上最大的綜合性網絡媒體之一。如果此次人民網上市順利過關，將對新華網、央視網等官網上市產生重大借鑒意義。

滬江科普：IPO全名initial public offering，首次公開募股。指企業(yè)透過證券交易所，首次公開向投資者發(fā)行股票，以期募集用于企業(yè)發(fā)展資金的過程。公司在進行首次公開籌股時，需要投資銀行公司作為承銷商，來準確評估股票的價值，也就是股價。