Focus Media's equity story garners strong demand in follow-on
Share price jumps 11.5% in wake of the sale, which saw most of the original venture capital investors exit the company.
It was a deal that offers proof that investors are still willing to commit money to equity stories they believe in. Focus Media's latest fully marketed follow-on share sale attracted demand for more than three times the amount of American Depositary Shares on offer, according to sources.
The deal, which was completed after the New York close last Thursday, was priced at a modest 0.9% discount to the latest market price. It was also increased from the the size that...
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