VisionChina signs advertising pact with Baidu unit, shares jump
(Reuters) - Shares of Chinese outdoor digital advertising company VisionChina Media Inc jumped 52 percent after the company said it signed a deal to promote Baidu Inc's online gaming unit in China.
VisionChina said it would be the exclusive digital mobile television advertising partner for Baidu Games and provide brand promotion in buses and subways in 2014.
The company said it reaches bus networks in 88 cities in China and subway networks in 14 cities.
Baidu Games is an online gaming platform where users can play games provided by third-party developers.
VisionChina shares were trading at $36.40 in premarket trading, after closing at $24 on the Nasdaq on Tuesday. They have risen more than 1,100 percent in the last six months.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty)