VisionChina launches $162 million follow-on
The company issues 8 million new and existing American Depositary Shares in an effort to improve the liquidity of its stock.
Nasdaq-listed VisionChina Media, a Chinese out-of-home advertising company, has launched a follow-on offering which, based on the price at the close of trading on Friday, could raise around $162 million.
Of the 8 million American Depositary Shares ADS on offer, 1 million are primary while the remaining 7 million are existing shares that are being sold by shareholders cashing in on the significant rise since the company's listing. VisionChina was one of the most successful IPOs by...
To continue reading, please login or register for free