Duzhe Publishing & Media Co Ltd, the publisher of China's most popular magazine The Duzhe (Readers), is to be listed on the Shanghai Stock Exchange.

According to an updated prospectus released on May 18, Duzhe will be listed on the Shanghai bourse to raise 504 million yuan ($81 million) to develop its magazine titles, digital publishing projects and book publishing operations.

The lead underwriter is China Dragon Securities Co Ltd, which like Duzhe is based in Lanzhou, the capital of Gansu province.