Outdoor advertiser Vision to debut on Nasdaq

Vision China Media will become the second mainland outdoor advertising media after Focus Media to issue shares on NASDAQ this Friday, Economic Observer reported (in Chinese). The firm plans to issue 13.5 million shares at between US$9.50 and US$11.50 in a bid to raise a total of US$128 million. Most of the funds raised will be used to finance the expansion of Vision's media platform in new cities, with the remainder potentially being used for acquisitions. The underwriters of the offering include Credit Suisse, Merrill Lynch, CIBC World Market and Susquehanna. Vision China Media currently has 33,000 TV advertising terminals covering 14 cities in China.