Jishi Media (601929), a Jilin-based state-owned company which constructs, manages, and maintains cable TV networks, will debut on the Shanghai Stock Exchange today, reports Shenzhen Economic Daily.

The company issued 280 million shares at seven yuan per share, raising 1.96 billion yuan from its initial public offering.

The corresponding price earnings (PE) ratio is 37.19 times earnings, and the 224 million shares subscribed online will become tradable today.

Chen Meifeng, an analyst at Haitong Securities, said a rational price range is between 6.51 yuan and 8.37 yuan per share, corresponding to a PE ratio of 21 times to 27 times earnings.