The media is the fastest in the end of June backdoor landed a-shares

New developments have been made in the media's relaunch of the IPO. Tencent Science and technology today learned that the media will be through a series of asset integration and restructuring, to build the main T1 company, the future through the backdoor way to achieve a domestic a-share listing. The actual main body of the listed media is T1 company, the T1 company's assets and the original assets of the listed company are replaced by the shareholders, and the replacement difference is paid by the listed company to the shareholders in cash and issue shares, and the supporting funds are raised. After the completion of the transaction, the T1 company's assets are injected into the listed companies, and the original shareholders of the media are controlled by the listed companies. According to the Shanghai Securities Daily reported that the media plan to retain the T1 company's offshore shareholding structure, that is, the majority of the original shareholders through Focus Media (Holding) Limited (FMCH) holding a 80% stake in T1 Company, the new shareholder holding T1 company 20% stake. Wait until the reorganization plan is approved, and then part of the dismantling of the FMCH intermediary structure, the formation of the original shareholders, new investors and FMCH directly holding T1 companies 70%, 20% and 10% of the equity framework, and then to trade with the listed companies. A person familiar with the technology of Tencent confirmed that the media shareholders in the Jiangnan Spring held 26.73% stake, strategic investor Source Capital, Carlyle Group, Fosun International, Citic Capital Holdings were 19.71%, 19.71%, 17.43%, 9.85%. In 2011, 2012, 2013 net profit is 1.129 billion, 1.487 billion, 1.32 billion, 2014 is expected to achieve net profits 2.5 billion, the proposed transfer of the old shares of the total value of about 46 billion yuan, the backdoor scheme valuation or up to 50 billion. A participant in the media listing program of the core of Tencent technology revealed that the media when the listing is still uncertain, mainly in the pursuit of 15 times times the mass media valuation, card in the CSRC "red Line", resulting in a long time to delay the approval. "Focus media this valuation is based on the 2015 profit forecasts, the fastest is expected to be listed at the end of June, the slowest is at the end of September or early October, from the current situation, the regulator should not delay the listing of the public media plans." "These people said that the media is not a VIE structure, the red chip is very simple, Changjiang Delta Spring as a core personnel will not take the opportunity to withdraw, the media management is also holding shares, with more and more tolerant regulator policy, the capital operation problem is not big." In fact, as early as this January, Tencent Technology has exclusively reported that Changjiang Delta Spring is brewing a new packaging media listing. Unlike the last time Fengfengguangguang chose to go public in the United States, the choice of media outlets may be Hong Kong or mainland capital markets. Since then, there are people familiar with the technology to Tencent, the media has been brewing and Phoenix media to carry out the shell listing, the two sides finally because of prices and other reasons did not negotiate, but the media is still brewing domestic listing, is expected to be completed soon. The specific person responsible for the IPO of the public media is the CFO and executive director of the Media Division.Liu Jiellang, Liu Jiellang and his team have been working on a new IPO for several months. Prior to joining the Liu Jiellang Media, he served as executive director of ES UN Holdings (eSun Holdings) Greater China Entertainment Group. Prior to Es un holdings, Liu Jiellang also served as executive director of the Goldman Sachs Group's Asia-Pacific research Media and Internet team. The concept of re-listing of the current focus media is also changing. Changjiang Delta Spring hope the outside world does not think that the media is only selling ads between buildings, is the old model, but in advertising, there are more value-added, especially in the O2O and mobile end areas.