China’s Bona Film Group Returning to Stock Market, Finalizing IPO in Shenzhen
variety.comPatrick Frater Asia Bureau ChiefBona Film Group, one of China’s most consistently successful private sector movie studios, is in the final stages of launching an IPO on the Shenzhen stock exchange.
The company was behind last year’s “The Battle of Lake Changjin,” the highest grossing film of all time in China.The IPO move represents a return to public company status for a firm that has frequently been ahead of its time.Bona was in the early wave of Chinese companies to list their share in the U.S.
and achieved an IPO on the NASDAQ exchange in 2010, in the hope that U.S. investors and financial markets would have a greater understanding of a media business – and therefore accord Bona a higher valuation – than if it listed in Hong Kong or mainland China.
When the adventure failed to provide the anticipated boost, Bona became one of the first Chinese companies to withdraw from the U.S.
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