Focus Media completes China's largest Nasdaq IPO

Mainland media company prices above range.

Shanghai-based Focus Media has raised $172 million pre greenshoe, in what represents the largest Nasdaq listing of a Chinese company. The Mainland media company issued 10.1 million ADR units at $17 per unit after Tuesday's close in New York.

The Goldman Sachs led deal priced above its indicative range of $14 to $16 - a rare occurance in the US and not possible in Hong Kong for regulatory reasons. There is also a 15% greenshoe, which...

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