Skip to main content

China's Focus Media Holding Ltd, a Carlyle-backed company that was delisted in the United States after short-seller attacks, aims to relist on the market through an acquisition by communications equipment maker Hedy Holdings.

Hedy plans to acquire Focus Media, which operates outdoor advertising as well as an internet ad agency, through a mix of cash, new shares and an asset swap for 45.7 billion yuan ($7.17 billion), Guangzhou-based Hedy said in a filing on the Shenzhen stock exchange.

"The deal involves a backdoor listing, so the company will need to submit an application to get approval from the China Securities Regulatory Commission," Hedy said in the Chinese-language statement.

The company also plans to raise up to 5 billion yuan in private placement of shares to fund the acquisition, it said.

Focus Media's relisting plans hit a snag in June after a similar deal with Jiangsu Hongda New Material Co Ltd came unstuck after the resignation of Hongda's chairman as he and the firm were being investigated over the possible violation of securities laws.

Focus Media's relisting plans have been seen as setting a precedent for Chinese firms which are listed abroad but are keen to come back home.

Related Articles

报名开始:2025 ALB China十五佳出海业务律师 / Submission open: 2025 ALB China Top 15 Overseas Investment Lawyers

ALB聚焦于企业出海尤其是律师在助力企业的出海中的重要角色,于2025年推出首个出海业务律师榜单——2025 ALB China十五佳出海业务律师。

2024 ALB China天达共和十五佳总法律顾问圆桌会议成功举办 (ZH/EN)

10月18日,2024 ALB天达共和十五佳总法律顾问圆桌会议在北京璞瑄酒店圆满举办。 本次盛会由天达共和律师事务所品牌运营总监刘思强女士主持,十五佳上榜总法及获奖代表出席了此次盛会。

功承瀛泰落子武汉,拓展华中布局(ZH/EN)

by Charlie Wu 吴卓言 |

总部位于上海的功承瀛泰律师事务所近日正式成立武汉办公室,成为该所在全国范围内的第16家分支机构。