Focus Media to increase capital in overseas subsidiary

Focus Media Information Technology (SZSE:002027) announced it will increase capital in its overseas holding subsidiary, Focus Media Overseas Investment III Limited (FMOIL III), through its wholly-owned subsidiary Focus Media Development Limited (FMDL), with a planned investment of no more than $35 million. The move aims to further the company's overseas business strategy and meet working capital needs. Other shareholders, JAS Investment Group Limited and Top New Development Limited, controlled by actual controller Jiang Nanchun, will participate in the capital increase proportionally to maintain their existing equity. Post-investment, Focus Media will indirectly continue to hold 70% of FMOIL III. The board of directors has already approved the plan, and it does not require shareholder approval.