China's second-largest newspaper group, Beijing Youth Daily is expected to sell one quarter of its equity, reported China Radio International.

A fixed timetable for the initial public offering hasn't been set, but analysts expect it to take place before the end of the year.

The IPO is expected to raise around 780 million HK dollars, or less than 100 million US dollars.

HSBC has been appointed by the newspaper group to bring the IPO to market.

In 2001, Beijing Youth Daily took an important step toward a listing by placing its main operating assets, advertising and publishing, into a separate unit within the group called Beijing Youth Media Development.

Source: Xinhua