Television-maker Skyworth Group plans to raise $1 billion through stock

Television-maker Skyworth Group plans to raise $1 billion through a stock exchange listing next year to develop its digital home-electronics business.

Finance director Jones Tao said the company was in talks with investment houses and expected to announce a listing mandate and timetable in a month.

He said the listing had been delayed because it had taken more time to market the company to institutional investors than was originally expected.

The company said in mid-April it would make an official listing application in June or July.

'Attractiveness of traditional television-makers to institutional investors is not that great,' he said.

The company plans to introduce in November television set-top boxes under the Venus brand, through which consumers can surf the Internet and view VCDs through normal televisions.