The Chinese media group, which operates major broadcast, print and Internet outlets as well as its own advertising agency, said it plans to uses the cash raised in its US share listing to repay debts and to fund possible acquisitions.

"These outlets reach an estimated 210 million potential television viewers, a potential listening audience of 33 million people, and the readers of leading magazines and newspapers," Xinhua Finance Media said.

The media group, which has close ties to China's state-run Xinhua News Agency, said it hopes to sell 23.1 million American depositary shares priced between 12 and 14 dollars each.

Describing itself as "a leading diversified media company in China," Xinhua Finance said it would use 50 million dollars from its US share listing to repay debts and "an undetermined amount" for future acquisitions.