Focus Media Holding Ltd. Appoints Citigroup Depositary for NASDAQ Listed American Depositary Receipt (ADR) Program
New York, NY, July 14, 2005 – Citigroup Depositary Receipt Services, the preeminent depositary bank, announced today that it has established a NASDAQ listed ADR program for Focus Media Holding, Ltd., the largest out-of-home advertising network using audiovisual television displays in China based on the number of locations and the quantity of flat-panel television displays in its network. The company is headquartered in Shanghai. This is an initial public offering in the U.S. market exclusively.
The Focus Media American Depositary Shares (ADSs) trade on the NASDAQ under the symbol FMCN (CUSIP 34415V 109). The ratio of Ordinary Shares to ADRs is 10 to 1.
"As we build the Focus Media business starting with China, we aim to enhance our visibility globally including the U.S. capital market," said Jason Nanchun Jiang, Chairman and CEO. "Our NASDAQ listed ADR is key to achieving a strong global profile, and Citigroup's support has been instrumental."
"We look forward to a strong alliance with Focus Media as the company launches its NASDAQ listed ADR program, building a foundation for long-term commitment to investors in the U.S. capital market," said Robert Heitsenrether, Global Head of Citigroup Depositary Receipt Services.
Focus Media operates the largest out-of-home advertising network in China using audiovisual television displays based on the number of locations and the quantity of flat-panel television displays in its network. The company has a presence in over 10,000 commercial locations and 400 retail stores in 44 major cities. As of March 31, 2005, Focus Media had placed 21,021 flat-panel television displays in high-traffic areas such as elevator lobbies of commercial buildings, retail chain stores, beauty parlors, and country clubs. For more information about Focus Media, please visit ir.focusmedia.cn.
About Citigroup Depositary Receipt Services
Citigroup Depositary Receipt Services is a leader in bringing quality issuers to the U.S. market and promoting American Depositary Receipts (ADRs) as an effective capital markets tool. Citibank began offering ADRs in 1928 and today is widely recognized for providing non-U.S. companies with a gateway to the resources of Citigroup and the means to diversify shareholder bases and increase liquidity. In addition, Citigroup's financial strength and global reach provide clients with access to Citigroup's on-the-ground presence and in-depth knowledge of 90 local markets. For further information about depositary receipt programs and trends, visit www.citigroup.com/adr
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