Chinese investors have now enjoyed two IPOs from the cinema sector in two weeks, after Shanghai Film Corporation made its debut on Wednesday. They are clearly fond of sequels the stock has risen almost 60% since it started trading.
The company, the distribution arm of the state-backed Shanghai Film Group, raised Rmb952.765 million $143.784 million from its 93.5 million share offer after turning to investors amid rising interest in Chinese cinema companies both at home and abroad.
Shanghai Film priced its shares at Rmb10.19 each, but that price did not hold for long. The new listing jumped by 44% after trading opened, hitting the maximum daily...
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