[ET Net News Agency, 4 December 2017] China Everbright Limited (00165) said it disposed
of an aggregate of about 119.7 million shares in Focus Media Information Technology during
the period between 9 January and 1 December 2017 for a total of about Rmb1,393 million
through on-market transactions conducted on, and block trade platform of, the Shenzhen
Stock Exchange.
After the disposals, China Everbright Limited will cease to have any interest in Focus
Media.
The Group is expected to recognize a gain of about HK$1,370 million from the disposals
for the year ending 31 December 2017. It is the current intention of China Everbright
Limited that the proceeds will be used by the Group as general working capital.
Focus Media is a joint stock company incorporated in the PRC with limited liability and
whose shares are listed on the Shenzhen Stock Exchange (stock code: 002027). Focus Media
is principally engaged in the development and operation of out-of-home media network,
including commercial building network (LCD display network and poster frame network),
movie theatre network, and in-store network. (HL)