Business

Enlight Media Gains CNY100 Million Bank Loan

Enlight Media has announced that the company gained CNY100 million credit from Bank of Beijing, which will be a preparation for restarting of the company's listing plan in China.

Wang Changtian, CEO of Enlight Media, says that the credit will be mainly used in making TV programs and constructing a nationwide program network. Although the huge loan will inject new vitality into the company, Wang admits that it will also raise the operational costs of the company for the interest is calculated as that of a normal commercial loan.

Wang reveals that several domestic China funds are competing for the first private placement of Enlight Media, which is the company's last private placement before getting listed in the A-share market.

Previous to this, Enlight Media was trying to get listed in NASDAQ by merging with wireless value-added services company Hurray, but the two split in less than six months. Referring to the reason for choosing the A-share market this time, Wang says that all of Enlight Media's businesses are in China and only Chinese investors know about the development of the company. At the same time, the industry nature of Enlight Media determines that A-share market is the best place for it and can help it to gain more interest for its investors.

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