Magazine article Screen International

Bona Files to List Shares on NASDAQ Stock Market

Magazine article Screen International

Bona Files to List Shares on NASDAQ Stock Market

Article excerpt

Chinese film distributor Bona Film Group has filed to list its shares on the NASDAQ stock market in New York, aiming to raise $80m in an initial public offering. It will be the first Chinese film company to be listed in the US.

Bona is currently one of the biggest privately-owned film companies in China, engaging in film investment, production and distribution. It also owns a talent management firm and a cinema management company.

The company aims to use the funds raised in the IPO, which is expected early next year, for investments in film production and distribution. It also plans to acquire cinemas in China. Bank of America Merrill Lynch, JP Morgan and the China Investment Capital Corp will handle the transaction with Cowen & Co and Piper Jaffray underwriting the IPO.

Founded by Yu Dong in 1999, Bona started as a film distribution company with state-owned China Poly Group, a commercial wing of the Chinese army, as its majority shareholder. It quickly became renowned for successfully distributing Hong Kong films in mainland China.

Bona was also one of the first Chinese film companies to receive investment from private equity companies. Between 2008 and 2009, Bona received two rounds of private equity financing from companies including SIG Asia, Sequoia China and new financier Matrix China. …

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