China Film plans biggest IPO in country's entertainment industry

Hong Kong

CHINA Film Co, the nation's largest movie distributor, is planning a 4.09 billion yuan (US$831.5 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 on Wednesday. The company will begin gauging investors' interest from July 22-25 and start the offering on July 28. Proceeds will be used for movie production and investments in cinemas, according to the company.