AirMedia Announces Pricing of Initial Public Offering of American Depository Shares
November 07 2007 - 3:00AM
PR Newswire (US)
BEIJING, Nov. 7 /Xinhua-PRNewswire/ -�C AirMedia Group Inc.
("AirMedia") (NASDAQ:AMCN), the operator of the largest digital
media network in China dedicated to air travel advertising,
announced today that its initial public offering of 15,000,000
American Depositary Shares ("ADSs") was priced at $15 per ADS. The
ADSs, each representing two ordinary shares of AirMedia, will begin
trading on the NASDAQ Global Market on November 7, 2007 under the
trading symbol "AMCN". The offering consists of 11,750,000 ADSs
offered by AirMedia and 3,250,000 ADSs offered by a selling
shareholder. AirMedia and another selling shareholder have granted
the underwriters an option to purchase up to 2,000,000 and 250,000
additional ADSs respectively to cover over-allotments. Morgan
Stanley and Lehman Brothers Inc. acted as the joint book runners
for this offering and CIBC World Markets Corp. and Susquehanna
Financial Group, LLLP acted as co-managers for the offering.
AirMedia's registration statement relating to these securities was
filed and declared effective by the U.S. Securities and Exchange
Commission. This press release does not constitute an offer to sell
or a solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offering of
the securities is made only by means of a prospectus. A copy of the
prospectus relating to the offering may be obtained by contacting
Morgan Stanley & Co. Incorporated, 180 Varick Street, New York,
New York 10014; Attention: Prospectus Department, or by email at ;
or from Lehman Brothers Inc., c/o Broadridge Prospectus
Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, by email
at or by fax at 1-631-254-7140. About AirMedia Group Inc. AirMedia
Group Inc. (NASDAQ:AMCN) operates the largest digital media network
in China dedicated to air travel advertising. AirMedia has
contractual concession rights to operate digital TV screens in 52
airports, including 28 out of the 30 largest airports in China, and
has contractual concession rights to place its programs on the
routes operated by 9 airlines, including the three largest airlines
in China. AirMedia also offers advertisers other media platforms in
airports, such as digital frames, light box displays, 360-degree
LED displays and 3D displays. For more information about AirMedia,
please visit http://www.airmedia.net.cn/ . For more information,
please contact: Investor Contact: Raymond Huang Investor Relations
Director Email: FD Beijing Julian Wilson Tel: +86-10-8591-1951
Email: FD New York Peter Schmidt Tel: +1-212-850-5654 Email:
DATASOURCE: AirMedia Group Inc. CONTACT: Investor Contact: Raymond
Huang, Investor Relations Director, ; or FD Beijing - Julian
Wilson, +86-10-8591-1951, or ; or FD New York - Peter Schmidt,
+1-212-850-5654, or , both for AirMedia Group Inc. Web Site:
http://www.airmedia.net.cn/
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