Strong Focus

Focus Media sees positive response to its latest equity offering.

Focus Media, which operates the largest out-of-home flat panel display advertising network in China, has sold $295.3 million worth of additional American Depositary Shares, which allowed existing shareholders to cash in part of their gains at the same time as the company raised funds to pay for recent acquisitions.

The offer, which was jointly arranged by Credit Suisse and Goldman Sachs, met with strong demand from investors who were keen to tap into the growth potential...

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