Tue, 02-Dec-2008
All eyes on Focus Media for new IPO
Published: Sep 23, 2008
Shanghai - Focus Media has announced plans to convert its online advertising company Allyes Online Media into a publicly traded US company.
The Friday announcement said the purpose of the IPO is to help the Chinese digital media company, which concentrates on internet advertising, provide "greater flexibility in developing its leadership in the internet advertising market in China."
The amount of stock to be offered and sold and its pricing has yet to be determined. Allyes Online Media is a wholly owned subsidiary of the Nasdaq-listed Focus Media Group.
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