Shanghai-based digital advertising company Focus Media Holdings relisted to a stock exchange in Shenzen in June 2015. Focus Media’s shares were sold to synthetic rubber maker Jiangsu Hongda New Materials for 45.7 billion yuan, approximately $7.37 billion. Our firm represented Focus Media Holdings in the transaction.
The deal valued the company at nearly twice what investors paid, $3.7 billion, to remove it from the Nasdaq in 2013. This is the first time a Chinese company has left a U.S. stock exchange and listed on Shenzen exchange. The deal was named "Equity Deal of the Year" by the China Law and Practice Awards 2016.
