Sinomedia up 2.7 percent in HK IPO debut

(For an expanded IPO diary, please click <HK/IPOMENU>)

HONG KONG, July 8 (Reuters) - Shares in Chinese advertising operator Sinomedia Holding Ltd (0623.HK) were set to open up 2.7 percent in their market debut on Tuesday after the firm raised $47 million in a Hong Kong initial public offering.

Shares in Sinomedia, which has obtained rights from national television broadcaster CCTV to sell advertising time to clients, were indicated at HK$2.70 in pre-market trade, compared with an IPO price of HK$2.63 per share, at the bottom of its indicated range.

Sinomedia sold 139.4 million shares, or 25 percent of its enlarged share capital, in a deal handled by Morgan Stanley (MS.N) and Cazenove.

(US$1=HK$7.8)

(Reporting by Kennix Chim, editing by Jonathan Hopfner)