Focus Media is embracing the internet and the shift in China towards a consumer-led economy ahead of its planned IPO in Hong Kong.
The company, China’s largest out-of-home advertising network operator, which delisted from the Nasdaq in a leveraged buyout last May, is looking to raise at least $1 billion by listing in Hong Kong, assuming the company floats 20% of its shares and grows at an annual 10% rate, according to sources familiar with the situation.
The Shanghai-headquartered company which places screens in lifts, buildings’ lobbies, buses and supermarkets could IPO as soon as the end of this year, the same sources said.
...
¬ Haymarket Media Limited. All rights reserved.
