China Time Share Media Co. Ltd has filed to raise up to $75 million in an initial public offering.  The Chinese advertising service provider has applied to take "CTSM" as its NASDAQ stock ticker.  No share count nor any share price was given.  Morgan Stanley and UBS are the lead underwriters, and China International Capital and Susquehanna Financial Group are co-managers.

China Time Share Media’s operations include ownership of and representation of anetwork of outdoor advertisements from billboards to LCD’s to streetfurniture transit displays. Its 2007 revenue was $41.9million, representing CAGR of 93.9% from 2005.  In the six months endedJune 30, 2008, its revenue increased to $40.0 million and net income jumped to $4.1 million.

Jon C. Ogg
September 9, 2008