Focus Media snares injections from Goldman, 3i
18 November 2004
Focus Media, China's biggest electronic ad sign company got cash injections from Goldman Sachs and UK private equity giant 3i. Goldman invested US$20m, 3i US$10m. Focus was set up in January 2003 and its plasma-screen ad business is exploding. The company says signs have now spread to lifts and other locations in more than 10,000 office blocks in 37 cities, making for a business that now generates RMB40m monthly. The signs also dot sports venues like arenas and golf courses. Earlier the company announced plans to raise US$100m on the NASDAQ where it plans to have its initial public offering in the first half of '05.
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