china-mass-media-launches-75-million-us-ipo

China Mass Media launches $75 million US IPO

The second Chinese advertising firm in a month to seek a listing, China Mass Media stresses its broader viewership but is still offered at a discount to Hong Kong-listed SinoMedia.
Television advertising company China Mass Media International Advertising has started bookbuilding for an initial public offering on the New York Stock Exchange that aims to raise between $75 million and $103.9 million.

The company is offering 14.4 million new American Depositary Shares ADS, or approximately 30% of its total share capital, at a price between $5.20 and $7.20 per share. Each ADS is equal to 15 common shares. There is also a 15% greenshoe, which, if exercised, could increase the total deal size to as much as $119.4 million.

China Mass Media is a Beijing-based company, currently 100%-owned by its founding chairman and CEO Wang Shengcheng, that sells advertising time on Chinese television. Its...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222