WPP makes further investment in Leading Smart

WPP Digital, the FTSE 100 company's digital investment arm, has participated in a third round of financing relating to its minority investment in Leading Smart Holdings, which has a controlling interest in the parent company Miaozhen Systems.

WPP Digital, the FTSE 100 company's digital investment arm, has participated in a third round of financing relating to its minority investment in Leading Smart Holdings, which has a controlling interest in the parent company Miaozhen Systems.

As such, WPP has invested in a series C preferred share round in Leading Smart, alongside CBC, Kleiner Perkins Caufield & Byers and Redpoint Ventures.

In a statement the company said: "This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors. Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the company, and is currently WPP's third largest market with revenues of $1.3bn in 2012, including associates."

The group revealed that its digital revenue alone in China is over $300m and said it currently employs 14,000 people, including associates.

The share price rose 2.25% to 1,047p by 13:38.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021