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 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 the situation.

The Shanghai-headquartered company which places screens in lifts, buildings’ lobbies, buses and supermarkets could IPO as soon as the end of this year, the same sources said.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222