VisionChina completes downsized follow-on

The deal shrinks to $88 million after a harsh week for the company's share price.

VisionChina Media, a Beijing-based advertising network operator, has completed a follow-on bringing in a total of $88 million. This is significantly less than the approximate $160 million that was expected when the deal was launched in the US on August 7.

After the launch, the company's share price was hit badly, dropping 14% by the time it came to pricing. Only 1 million of the 8 million American Depository Shares ADS offered in the original deal were primary shares,...

To continue reading, please login or register for free

Click for more on: followon | credit suisse | morgan stanley | merrill

Print Edition

FinanceAsia Print Edition

CONFERENCES