Chinese ringtone retailer A8.com plans USD27.8m IPO

Thu May 29 2008, 09:08 AM

Chinese ringtone retailer A8.com is planning to raise USD27.8m in a IPO on the Hong Kong Stock Exchange. Based in Shenzen, the company offers professional and user-generated ringtones, with a catalogue of more than 170,000 songs. It sells online and via mobile handsets, having partnerships with carriers China Mobile and China Unicom. It is backed by Intel Capital, JAFCO, IDGVC and TDF. Following the IPO, A8.com plans to expand its business by exploring new delivery channels, such as WAP, and launching a pre-paid card.

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Founded in 2000, the firm posted profits of USD7.9m in 2007 from revenues of USD41.2m. This compares to profits of USD5.6m in 2006 from revenues of USD38.7m.