Bona Film Group (NASDAQ:BONA), one of China’s most continuously profitable private film companies, is in the final stages of launching an initial public offering (IPO) on the Shenzhen stock exchange. The business was responsible for The Battle of Lake Changjin, China’s highest-grossing film.
Bona (NASDAQ:BONA) was among the first wave of Chinese companies to list their shares in the United States, achieving an initial public offering (IPO) on the NASDAQ exchange in 2010, with the expectation that U.S. investors and financial markets would have a greater understanding of a media business than if Bona (NASDAQ:BONA) had listed in Hong Kong or mainland China.
Bona became one of the earliest Chinese corporations to withdraw from the U.S. securities markets when the collaboration failed to give the anticipated boost. In 2015, the company’s charismatic creator, a former distributor turned producer, Yu Dong, took Bona private with the assistance of investors from the media and technology industries. It is believed that he has attempted on multiple occasions to list Bona (NASDAQ:BONA) on a Hong Kong or mainland Chinese exchange.
The company has now detailed its upcoming launch in over 50 regulatory documents, including a 735-page prospectus and a 113-page summary. The company will sell 275 million new shares in a public offering supported by China Dragon Securities and CITIC Securities, both of which are prestigious mainland enterprises. When the sale price of the shares is published later this week, the amount of new capital it brings will become clear. The counter will begin trading on Tuesday of next week.
Featured Image: Megapixl © scanrail
