chinese-ad-company-launches-accelerated-ipo

Chinese ad company launches accelerated IPO

SinoMedia aims to raise up to $62 million which will be used to expand its advertising business onto new platforms.
Chinese advertising company SinoMedia started bookbuilding yesterday for an IPO of between HK$366 6 million and HK$485 1 million ($47 million to $62 million)

Shares in the company will cost between HK$2 63 and HK$3 48 each The base deal consists of 139 4 million shares, which represents 25% of the company If the 15% greenshoe is exercised, a further 20 9 million shares will be brought into the deal, increasing the maximum deal size to $71 million Of the shares being offered in the base deal, 90% are primary The remaining 10% are being offered by Golden Bridge Culture, a private investment company owned by SinomediaÆs chairman Chen Xin and his wife Liu Jinlan,...
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