Focus Media share sale prices at a 0.9% discount
The $529 million offer sets the trend for other US-listed companies lining up to sell shares. Mindray, China Oriental Education and S3Bio are next in the queue.
Nasdaq-listed Focus Media Holding has seen another round of sell-downs from its pre-IPO shareholders which, together with a smaller portion of new shares issued by the company, resulted in $529 million worth of shares in the audiovisual advertiser changing hands at the end of last week.
According to sources, the deal was more than three times subscribed, which suggests investors submitted orders for close to $1.6 billion of stock. And that was despite the fact that the share price closed...
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