译 名：Privatization and Backdoor Listing Capital Operation of Focus Media
案例作者：邓路、林珠平、郑云鹤
作者单位：北京航空航天大学
所在案例库：中国金融专业学位案例中心
案例链接：http://www.pdf.org.cn/homepage/excellent/42
中文摘要：从一家简单的传媒公司，成长为首只回归 A 股实现估值翻番的中概股，在 创始人江南春的带领下，分众多媒体技术(上海)有限公司(以下简称“分众传 媒”或“分众”)走过了一春又一春，公司以其特有的楼宇视频广告商业模式、 媒体传播的分众性、生动性赢得了业界的广泛认同。面对激烈的市场竞争，分众 传媒通过赴美上市、私有化、再到借壳上市回归 A 股等一系列资本运作，使公司 始终处于行业前沿。本案例通过对分众传媒私有化与借壳上市行为的分析，探求 资本市场时机对其资本运作路径的影响机制，以期为其他类似公司如何合理利用 资本市场实现公司价值最大化提供借鉴。
英文摘要：Under the lead of founder Nanchun Jiang, Multi Media Technology (Shanghai) Co., Ltd. (short for "Focus Media") has grown from a simple media company to the first Chinese concept stock back to A shares and double appraisement. The company has won wide recognition in the industry with its unique video advertising business model, public & lively media spread. In the face of fierce market competition, Focus Media has always been at the forefront of the industry by listing in NASDAQ, privatization, return to A shares by backdoor listing etc. a series of capital operation. This case is to analyze privatization and backdoor listing behavior of Focus Media, explore affection of market timing to its capital operation mechanism, in order to provide reference for other similar companies how to utilize the capital market to build competitive advantage.
中文关键词：分众传媒;私有化;借壳上市
英文关键词：Focus Media; Privatization; Backdoor Listing
案例入库时间：2016-06
