China Publishing Group Corp. (CPGC) vice president Wang Junguo and two general managers of the group’s subsidiaries are said to have been detained by mainland authorities for “serious disciplinary violations”, the 21st Century Business Herald reported Wednesday, citing information from the website of the Central Commission for Discipline Inspection. The two general managers were identified as Luo Zhengyu and Zhang Yueming. CPGC is believed to be seeking a listing status, having set up a subsidiary in December 2011 to serve as the listing vehicle. An analyst at China Investment Corp. was quoted as saying that the disciplinary cases will cast a shadow on CPGC’s listing plans, or at least hurt its valuation during the IPO process.
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