HONG KONG (Reuters) - Focus Media Holding Ltd, a Chinese display advertising company backed by Carlyle Group (CG.O) and other private equity firms, plans a $1 billion initial public offering in Hong Kong early in 2015, IFR reported on Friday, citing sources familiar with the plans.
No banks have been formally mandated for the IPO, added IFR, a Thomson Reuters publication. The deal would come less than one year after Focus Media delisted from the Nasdaq stock market.
Carlyle, FountainVest Partners, CITIC Capital Partners, China Everbright and Fosun International Ltd (0656.HK) acquired Focus Media in May 2013 for $3.8 billion, in what was China’s biggest-ever leveraged buyout.
Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by David Holmes