Focus Media Subsidiary Completes Capital Increase and Equity Expansion, Bringing in Investors

Corporate Action
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Summary · why it matters

Focus Media's wholly-owned subsidiary FMDL's controlled subsidiary FMOIL III has completed a capital increase and equity expansion to bring in investors. This capital increase raised a total of 63 million US dollars. All relevant documents have been signed, the transaction consideration has been received in full, and procedures such as registration and shareholder filings have been completed. Investors include Elevision Holding Limited, OASIS PROSPERITY LIMITED, DIGI VERTICAL LTD, Co-Innoah Growth Fund I LP, and the company's affiliated legal entity Top New Development Limited. After the capital increase, FMDL's shareholding in FMOIL III changed from 70 percent to 50.22 percent. FMOIL III remains a controlled subsidiary of the company and is included in the company's consolidated financial statements. The company stated that this capital increase is conducive to enhancing the financial strength of its overseas subsidiary FMOIL III, promoting its sustainable and high-quality development, and supporting the expansion and layout of the company's overseas business.

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Others▲ · 1 stocks

Off-coverage companies 5

Co-Innoah Growth Fund I LPPrivate± Mixed
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DIGI VERTICAL LTDPrivate± Mixed
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Elevision Holding LimitedPrivate± Mixed
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OASIS PROSPERITY LIMITEDPrivate± Mixed
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Top New Development LimitedPrivate± Mixed
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