Focus Media
 | This article relies largely or entirely on a single source. (May 2022) |
| Company type | Public |
|---|---|
| Industry | Advertising |
| Founded | 2003 |
| Headquarters | Shanghai, China |
Key people | Jason Jiang (chairman & CEO) Weiwei Kong (CFO) |
| Revenue | $0.9 billion USD (6.06 billion RMB) (2021) |
| $2.176 billion USD (14.84 billion RMB) (2021) | |
| $23.548 million USD (2005) | |
Number of employees | 5309 |
| Website | www |
Focus Media Information Technology, formerly Focus Media Holding, is a Chinese company which operates out-of-home advertising in China which consist predominantly of digital signage screens and claims to own the country's largest Internet advertising agency.
Relisting
[edit]In November 2011, Muddy Waters Research reported massive fraud and corruption within the company.[1] Focus denied the allegations. Until 2020, Muddy Waters had shorted 18 Chinese companies, including New Oriental(EDU), Anta Sports(02020.hk), Luckin Coffee(LK), and so on, most of which have been developing well. In May 2013, Focus Media was subsequently taken private and delisted rom the Nasdaq by a private equity consortium that included FountainVest Partners, The Carlyle Group, China Everbright and CITIC Capital.[2]
In June 2015, Focus Media reached a $7.4 Billion deal to list on Shenzhen Stock Exchange via reverse merger.[3] Its market value breaks through 100 billion yuan. In 2016, Focus Media was included in the Shanghai and Shenzhen 300 Index.[4] In 2017, Focus was included in the MSCI China A-share Index, and in 2024, Focus was included in the CSI A50 Index.[5]
References
[edit]- ^ Soham Chatterjee and Ryan Vlastelica (21 November 2011). "Focus Media plunges after Muddy Waters charges". Reuters. Retrieved 25 November 2011.
- ^ "Focus Media accepts US$3.7b buyout offer". South China Morning Post. 2012-12-21. Retrieved 2023-06-22.
- ^ Gough, Neil (2015-06-03). "Focus Media Reaches $7.4 Billion Deal to List in Shenzhen". The New York Times. ISSN 0362-4331. Retrieved 2023-06-22.
- ^ "The CSI 300 Index (000300)". www.csindex.com.cn. Retrieved 2024-12-02.
- ^ "The SSE 50 Index （930050）". www.csindex.com.cn. Retrieved 2024-12-02.
External links
[edit]
- Companies in the SZSE 100 Index
- Companies in the CSI 100 Index
- Companies listed on the Shenzhen Stock Exchange
- Advertising agencies of China
- Chinese brands
- Companies based in Shanghai
- Marketing companies established in 2003
- Companies formerly listed on the Nasdaq
- The Carlyle Group
- Fosun International
- Chinese companies established in 2003
- 2003 in Shanghai