A relatively small, little known company named China digital tv has filed with the SEC for a US$150 million IPO on the New York Stock Exchange. The company "develops software used in conditional access systems, which are a key component of pay-television platforms, and set-top boxes for digital TV subscribers," according to the Associated Press.




The company's IPO paperwork says that it had profits in the first half of 2007 of US$12.2 million and total revenue of US$21.7 million. But Trademarkets Dot Com suspects that China Digital TV is a front for another company. They interviewed tech insiders in China who were unfamiliar with the company name but willing to speculate on who might really be behind the IPO.

Underwriters include Morgan Stanley, Credit Suisse, and Piper Jaffray.

Amy in Hong Kong might have a reasonable view: "I would say it's risky to invest in China's digital TV market now, especially in a digital TV card maker like China Digital TV, since the policy of standard and regulation hasn't really confirmed yet and it could be changed anytime."