Focus Media - China's largest Nasdaq IPO

FinanceAsia.com reports today on China's largest Nasdaq IPO. Focus Media is an interesting company which has placed screens, usually in the lift lobby, of over 8,500 commercial buildings around major cities in China and Hong Kong. The prospect of addressing a captive audience of business people waiting for a ride up to their offices has proven attractive to advertisers and, it seems, to investors on NASDAQ. The company raised $172 million, the FinanceAsia report says.

Another, similar company, Target Media, is set to list later this year. Before the Focus listing, they were looking to raise $150 million. Perhaps sights will now be set higher still.