Fosun Becomes Sina's Second Largest Shareholder

Modern Express, 12/26/08

Chinese digital media firm Focus Media (Nasdaq: FMCN) has indicated investor Fosun International Limited is continuing to purchase Focus Media shares, with its stake increasing from 13.33% to 16.78%, becoming the largest single shareholder in Focus Media, and the second largest shareholder in Sina (Nasdaq: SINA).

According to information provided by Fosun International Limited to the US Securities and Exchange Commission on December 23, Fosun International Limited purchased 4,473,752 American Depository Shares in Focus Media at an average of USD 9.28 per share, equivalent to 2,236,870 common shares in Focus Media. This means Fosun International Limited will, upon completion of the assets swap between Sina and Focus Media, hold a 7.66% stake in Sina. Sina's second largest shareholder, T. Rowe Price Associates, holds a 6.2% stake.

Keywords: digital media FMCN Focus Media Fosun Internet Sina T. Rowe Price investment out-of-home display

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