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Charm Communications (CHRM) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Charm Communications (CHRM) (NASDAQ:CHRM) is the largest television advertising company in China. In 2009, the company spent $288.0 million in advertisingn for its clients on the television networks. Its top nine clients are: China Telecom, PICC, Agricultural Bank of China, China CITIC Bank, Snowbeer, Yunnan Baiyao, C-Bons, Wahaha and Midea. These nine companies represented 18.1% of total revenue in 2009. [1]
China has the largest advertising network in Asia Pacific excluding Japan. According to ZenithOptimedia, it has an estimated market size of $20.3 billion in 2009 and expected to grow to $27.5 billion in 2012, a CAGR of 10.7%. In 2009, television represented 74.3% of total advertising. The growth in television advertising as a whole is the result of China growing economy, with household disposable income rising and consumption rising. [1]
The company's initial public offering of stock filed on the NASDAQ exchange and went public on 4 May 2010. It was priced at $9.50, within the proposed offer price range of $9.00-$11.00. The company is offering 7.8 million shares and raising $74 million. [1]
For FY2009 with year ended 31 December 2009, the company reported total revenue of $106 million, up 8.4% from $97.8 million in total revenue for FY2008. Furthermore, the company had $15.3 million in net income for FY2009, down 16.8% from $18.4 million in net income for FY2008. [1]
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