BMCMedia Launches Share Offer
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Australian online marketing company BMCMedia has announced a public share offer at 50 cents per share which values the group at AUS$61.4 million.
The offer being underwritten by HSBC Securities is for 30 million shares, which will represent approximately 24 per cent of BMCMedia's issued capital.
"BMCMedia's Australian business model will serve as the platform for the company's future development in both the emerging and established overseas markets," said BMCMedia chairman Nick Greiner. "Since expanding into the Asian market earlier this year, the company has already secured representation of 28 Web sites including one of the world's largest Chinese language sites, Sina.com."
In September this year, BMCMedia in association with US Internet advertising company Phase2Media, won the right to represent the official Olympic Internet site for advertising and sponsorship for the Sydney 2000 Games. It is estimated that this site will generate more than 1.4 billion page impressions.
The company also plans to open three new offices in Asia before the end of the year.