Zhong Lun Advises on Follow-on Offering of ADSs in Focus Media
Zhong Lun Advises on Follow-on Offering of ADSs in Focus Media
On September 8, 2010, NASDAQ listed Focus Media announced that JJ Media, an entity wholly owned by Jason Nanchun Jiang, chairman of Focus Media, has agreed to sell 8,100,000 ADSs at a price of $18.90 per ADS, and concurrently has entered into a capped call option transaction that will initially cover 10,100,000 ADSs. Goldman Sachs has acted as the underwriter for the transaction, and Zhong Lun has acted as the PRC counsel for the underwriter. The legal team from Zhong Lun was led by Anthony Zhao and included William Jia, Bonnie Jin etc.