Pursuits
China Film Plans Nation’s Largest Entertainment-Industry IPO
- Share sale to raise as much as $611 million, filing shows
- Proceeds to be used in movie production, investment in cinemas
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China Film Co., the nation’s largest movie distributor, is planning a 4.09 billion yuan ($611 million) initial public offering in what would be the biggest IPO in the country’s entertainment industry.
The unit of state-owned China Film Group Corp. plans to offer as many as 467 million shares to be listed on the Shanghai Stock Exchange, according to a filing Wednesday. The company will begin gauging investors’ interest from July 22-25 and start the offering July 28. Proceeds will be used for movie production and investments in cinemas, according to the company.