China Film Corporation plans to raise Rmb4.09 billion $611 million through a long-awaited initial public offering in Shanghai. It is poised to be the largest IPO in the nation’s cinema industry and the second-biggest Chinese A-share listing in any sector this year.
The company, which runs distribution for state-controlled China Film Group, is set to issue as many as 467 million new shares, or up to 25.01% of its enlarged share capital, according to a prospectus filed with the Shanghai Stock Exchange on Wednesday.
China Film initially planned to list in 2004 but postponed its IPO at least three times. The most recent attempt was put on...
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