Focus Media seeks "internet gene"

The Chinese group plans to seize the opportunities being created by the internet and Beijing’s efforts to build a consumer-based economy.

Focus Media seeks "internet gene"

Focus Media is embracing the internet and the shift in China towards a consumer-led economy ahead of its planned IPO in Hong Kong.

The company, China’s largest out-of-home advertising network operator, which delisted from the Nasdaq in a leveraged buyout last May, is looking to raise at least $1 billion by listing in Hong Kong, assuming the company floats 20% of its shares and grows at an annual 10% rate, according to sources familiar with...

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