Rumor: Allyes IPO Delayed by Poor Performance and Staffing

Sohu IT, 12/09/09

According to sources in the investment sector, Chinese digital media group Focus Media's (Nasdaq: FMCN) plans to spin-off and list its online advertising subsidiary, Allyes AdNetwork, on a domestic exchange have been delayed due to a recent exodus by senior management and sagging performance.

Industry sources reported that Focus Media initiated plans to IPO Allyes in May-June 2009.

One investor, speaking on the condition of anonymity, said that now is not a good time for Allyes to IPO, and it might be best to wait until next year when performance improves and the staffing situation stabilizes.

Focus Media refused to comment on the matter.

Keywords: Focus Media Internet IPO online advertising Allyes spin-off FMCN

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily