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Via the move, the Chinese company introduces some institutional investors such as Fidelity Management & Research Co., Oberweise Asset Management Inc., and Jetstream Capital. Shares of VisionChina leaped by 12% after it succeeded in the offering.
During the second quarter of 2008, China had a revenue of CNY 1.6 billion in its outdoor light emitting diode (LED) advertising market, a 69.6% surge compared with the period last year, according to a second-quarter report by Analysys International, an Internet-based provider of business information about technology, media, and telecommunications in China.
There is strong demand for mobile television advertising in the country. Some big names have become the business's steady customers, like Mcdonald's, Johnson & Johnson Services, Inc., GOME Electrical Appliances Holding Ltd. (SEHK: 0493), China Life Insurance Co., Ltd. (NYSE: LFC, SEHK: 2628, and SHSE: 601628), and Inner Mongolia Mengniu Dairy Co., Ltd. (SEHK: 2319).
From www.enet.com.cn, Page 1, Monday, August 18, 2008 info@SinoCast.Com
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