Actionable news
0
All posts from Actionable news
Actionable news in VISN: VisionChina Media, Inc.,

VisionChina Media Provides Update on Sale of Subway Mobile TV Advertising Business

BEIJING, July 22, 2016 /PRNewswire/ -- VisionChina Media Inc. ("VisionChina Media" or the "Company") (VISN), China's largest out-of-home digital television and advertising network on mass transportation systems and the leading provider of urban mass transit Wi-Fi, today provided an update on the proposed sale of the Company's subway mobile TV advertising business to Ledman Optoelectronic Co., Ltd. ("Ledman")("the Transaction"), a company listed on the Shenzhen Stock Exchange ("SSE") (stock code: 300162).

On July 22, 2016, Ledman advised the Company that it had submitted to the China Securities Regulatory Commission ("CSRC"), an application for suspension of the Transaction pending uncertainties surrounding government regulatory policies pertaining to foreign-listed Chinese companies relisting in China's domestic stock market.

Consummation of the Transaction remains subject to requisite approvals of the relevant parties and regulatory clearance by the CSRC. There is no assurance that these approvals and the regulatory clearance will be obtained within any expected time frame, or can be obtained at all.

For further details of the Transaction, please refer to public announcements made by Ledman, which are available at www.sse.com.cn, the official website of the SSE.

VisionChina Media Inc. (VISN) operates an...


More