Fosun International reports 28.65% stake in Focus Media

By Lisa Kerner

Charlotte, N.C., March 26 - Focus Media Holding Ltd. investor Fosun International Holding Ltd. bought 3,256,113 American Depositary Shares, representing 16,280,565 ordinary shares, for a total of $21.30 million between Feb. 20 and March 25, it was reported in a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.

In a prior SEC filing, Fosun reported the purchase of 2,424,897 ADSs, representing 12,124,485 ordinary shares, for a total of $17.66 million between Feb. 6 and Feb. 19.

Fosun beneficially owns 37,101,977 ADSs, each representing five ordinary shares. In total, the ADSs represent 185,509,885 ordinary shares, or 28.65%, of the Shanghai-based company's outstanding stock.

Focus Media operates out-of-home advertising networks using audiovisual digital displays in the People's Republic of China.

Fosun is a Chinese conglomerate with operations in the steel, real estate and pharmaceutical sectors.

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