Next Media (Holdings) chairman Yeung Wai-hong says several merchant banks have expressed interest in handling the publisher's proposed listing after Sun Hung Kai International's (SHKI) decision last week to withdraw. Mr Yeung would not say how advanced talks were with any of the banks. He said Next, controlled by Jimmy Lai Chee-ying, was seeking lawyers to handle its planned action against SHKI for alleged breach of contract. SHKI signed no contract to act as sponsor. It was acting on behalf of Next until last Thursday to handle a formal listing application submitted to the stock exchange in January, he said. SHKI said the decision to withdraw was a 'commercial decision'. Over the past three years, about 12 banks had indicated interest in sponsoring Next's listing, but no deals were finalised, Mr Yeung said. Of the banks, one said it had to consult Xinhua (the New China News Agency) before taking the deal, he said. Xinhua said the claim was groundless.
