J.P.Morgan Investment Banking Pitch Book
APPENDIX
Focus Media public market overview
Share price performance¹ (rebased to Focus Media price)
Price (US$)
Vol (mm)
80
70
60
50
40
30
20
10
Prior to offer
Since 80
offer
Performance to date Since IPO 3-year 1-year 3-month 30-day
Focus Media
175.1% 140.8% (17.2%) 0.5% (0.1%)
22%
40.9% 51.6%
26.9% 3.0% 2.4% (0.3%)
(1.4%) 23.7% 3.1% (7.4%) 1.4% 99%
Nasdaq
Peers
Initial offer price: $27.00/ADS
IPO price¹:
$8.5/ADS
0
Jul-05
Focus Media
Nasdaq
Global outdoor
advertising peers*
Revised offer price:
$27.50/ADS
PROJECT FOXTROT
Prior to offer:
$23.38/ADS
Jan-07
Jun-08
Dec-09
Source: Factset; Market data as of Dec 17, 2012
¹Since IPO
Jun-11
70
60
50
40
30
20
10
0
Dec-12
Trading range (US$/ADS)
14
70.0
60.0
50.0
40.0
30.0
20.0
66.3
0.0
25.9
10.0 IPO price:
8.51
4.8
Since
IPO
37.6
21.0
8.4
Min VWAP Max & Current
21.9
32.9
8.8
-23:8
20.0
Last 3 Last 1
year year
Prior to offer
16.8
23.4.
26.5
24.4
22.6
Last 30 Last trading Since
trading days day offer
2 Represents Aug 10, 2012 which is the last trading day before the take private offer on Aug 13, 2012
3 Focus Media did a 2 to 1 ADS split in Apr 2007, the pre-adjustment IPO price is US$17
* Global outdoor advertising peers includes JCDecaux, Lamar Advertising, Clear Channel Outdoor Holdings, APG|SGA, Ströer Out-of-Home Media, and Clear Media
Initial
23.9 offer
price:
$27.00
Revised
offer price:
$27.50
Current
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