iWorld
Internet users in China 94 million: Survey
MUMBAI: The number of internet users in China surpassed 94 million by the end of 2004, recording a year-on-year growth of 18.2 per cent. According to a survey conducted by China Internet Network Information Center in July 2004, China has 39.4 per cent female netizens and for the male segment the figure stands at 60.6 per cent.
But that is not the case with Hong Kong and Macao. The number of internet users in these two regions stood at 51 per cent and 46 per cent respectively at the end of 2004.
Age-wise, more than 50 per cent of internet users in China are below 25 on the mainland, in Hong Kong it is 39 per cent and in Macao it stands at 51 per cent. In China, 32 per cent of the internet users are students.
According to the survey, approximately 67.9 per cent of netizens surf from home. About 40 per cent surf in offices, internet cafes and schools. In China people surf the web mainly to check e-mails, read news and gather information. About 6.3 per cent say they use the internet for educational purposes.
iWorld
Jio IPO faces delay as India yet to clear listing rule changes
Proposed rule change allows mega IPOs to float just 2.5 per cent
MUMBAI: The Indian government’s delay in formalising changes to listing rules may derail the targeted timeline for the initial public offering (IPO) of Jio Platforms, the digital arm of Reliance Industries controlled by billionaire Mukesh Ambani.
According to media reports, Reliance is awaiting formal notification of regulatory amendments before appointing investment bankers and filing a draft IPO prospectus. The company is now aiming to submit the draft prospectus before April, depending on when the government issues the notification.
Jio, which owns India’s largest wireless operator, is widely seen as one of the crown jewels of Ambani’s business empire. Its listing, the first public offering of a major Reliance unit in nearly two decades, could become the country’s biggest ever IPO.
Investment bankers have proposed a valuation of as much as $170 billion for the company. Even the minimum stake sale could raise roughly $4.3 billion, potentially placing Jio among India’s most valuable listed companies.
Ambani had earlier said that Reliance was targeting a listing of Jio in the first half of 2026, a plan first outlined in 2019 with a five-year timeline. In 2020, global technology groups Meta Platforms and Alphabet invested more than $10 billion combined in the company.
The delay stems from pending regulatory changes approved by the Securities and Exchange Board of India in September. The amendments allow companies with a post-issue market capitalisation exceeding Rs 5 trillion (about $55 billion) to float as little as 2.5 per cent of equity in an IPO, compared with the current 5 per cent minimum.
Such changes are expected to enable mega listings, including potential offerings by Jio and the National Stock Exchange of India. However, the reforms still require formal notification from the government.
Meanwhile, the National Stock Exchange is moving ahead with plans to raise as much as $2.5 billion through its own IPO and has recently invited banks to pitch for roles in the offering.
