The Chinese Advertising Company, Redgate Media Group will try to raise $43 million during an initial public offering this week. Most of that money will go toward paying down recent acquisitions. Redgate’s accounting firm said that without raising money in an I.P.O. or securing some other form of financing, it may find itself unable to pay off recent acquisitions, according to the company’s filing. For the Latest information regarding “
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The Chinese Advertising Company, Redgate Media Group will try to raise $43 million during an initial public offering this week. The advertising agency runs television, radio, billboards and Internet marketing campaigns in about 160 Chinese cities. Redgate plans to sell 3.75 million American depositary shares for between $10.50 to $12.50 each on Monday night for net proceeds of about $33.8 million.
Most of that money will go toward paying down recent acquisitions, The Associated Press said. Redgate’s accounting firm said that without raising money in an I.P.O. or securing some other form of financing, it may find itself unable to pay off recent acquisitions, according to the company’s filing.
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