Key Developments For CGEN Digital Media Company Limited
CGEN Digital Media Co Ltd Plans To Withdraw IPO-Reuters
Reuters reported that CGEN Digital Media Co Ltd has filed to withdraw its plan for an initial public offering (IPO), citing its acquisition by Focus Media Holding Ltd.
Focus Media To Acquire CGEN Digital Media Co Ltd
CGEN Digital Media Co Ltd: Focus Media announced that it has entered into a definitive agreement to acquire CGEN Digital Media Company Limited, a operator of an in-store digital advertising network in China. Under the agreement, Focus Media will acquire 100% of the equity of CGEN for $168.4 million in cash, and an additional payment of up to $181.6 million, part in cash and part in Focus Media ordinary shares (valued at $53.42 per ADS, each of which represents five Focus Media ordinary shares). The transaction is expected to close in the first quarter of 2008.
CGEN Digital Media Co Ltd Files For $100 Million IPO-Reuters
Reuters reported that CGEN Digital Media Co Ltd is planning an initial public offering (IPO) of as much as $100 million in American depositary shares. Piper Jaffray will underwrite the IPO. The Company is seeking a Nasdaq listing under the symbol 'ADTV'.
