China Literature to seek HK listing approval

China Literature Ltd, the online literature-focused arm of the mainland's tech conglomerate Tencent Holdings Ltd, reportedly plans to seek a listing approval in a hearing with the Hong Kong stock exchange this week, making a move closer to its scheduled IPO that is expected to raise $600 million to $800 million.

According to the report by Thomson Reuters publication IFR, insiders close to the deal said if approved, China Literature would arrange premarketing next week.

Last Friday, Tencent said in an official announcement that shareholders will be entitled to apply for China Literature IPO shares to the preferential offering on Oct 20. The register of members of the company will be closed on that date and no transfer of shares will be registered on the same day, according to the announcement.