Imax Corp.’s Chinese business and the unit’s existing owners are seeking to raise as much as $276 million in a Hong Kong IPO as the use of large-screen cinema technology expands in the world’s second-largest economy.

Imax China Holding Inc. and its investors are offering a combined 62 million shares at HK$29.80 to HK$34.50 apiece, according to terms for the deal obtained by Bloomberg. The selling shareholders are Mississauga, Ontario-based Imax Corp., as well as Chinese private-equity firms FountainVest Partners and China Media Capital, the terms show. 

The deal would add to the $20.1 billion raised through first-time share sales in Hong Kong this year, according to data compiled by Bloomberg. Companies that priced such offerings since the Chinese stock market’s $5 trillion rout began in mid-June have fallen an average 21 percent from their sale prices when adjusted for deal size, the data show. 

Imax China’s net income excluding some items more than doubled in the first half of 2015 to $18.3 million, from $8.6 million a year earlier, according to a Sept. 15 pre-listing filing with the Hong Kong stock exchange. Revenue increased 57 percent to $43.9 million.

The company’s largest customer is billionaire Wang Jianlin’s Wanda Cinema Line Co., the nation’s largest theater operator. There were 221 Imax theaters showing commercial films in mainland China at the end of June, as well as four in Hong Kong and eight in Taiwan. Imax China also has 217 theater systems in its backlog that are scheduled to be installed, the pre-listing filing shows.

Imax China aims to price the offering Sept. 30 and begin trading Oct. 8. Morgan Stanley is the sponsor of the offering, according to the pre-listing filing. Goldman Sachs Group Inc. is also among banks arranging the sale. 

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