Chinese media company makes follow-on offering

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    clpstaff &clp articles

    JJ Media Investment Holding, a company wholly owned by the chairman of Chinese multi-platform digital media company Focus Media, has sold 8.1 million American…

    JJ Media Investment Holding, a company wholly owned by the chairman of Chinese multi-platform digital media company Focus Media, has sold 8.1 million American depositary shares (ADSs) at a price of $18.90 per ADS in a follow-on offering.

    Of these ADSs, the underwriter Goldman Sachs has purchased 5.3 million ADSs. Goldman Sachs International has purchased the remaining 2.8 million ADSs through the capped call options and over-the-counter derivative transaction with JJ Media.

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