Magazine article Screen International

STX Entertainment Heading for Hong Kong Listing

Magazine article Screen International

STX Entertainment Heading for Hong Kong Listing

Article excerpt

STX Entertainment is planning an initial public offering in the first quarter of 2018 that would value the company at $3.5bn, according to reports that emerged on Thursday.

STX Entertainment is planning an initial public offering in the first quarter of 2018 that would value the company at $3.5bn, according to reports that emerged on Thursday.

The Wall Street Journal reported that the company plans to raise around $500m from the IPO, most likely on the Hong Kong stock exchange, where international investment banks are already vying for the business.

Hong Kong is being favoured as a location over New York as its valuations tend to be higher, administration costs are lower and the company would be closer to its investors in mainland China.

Launched in 2014, STX had initial backing from venture capital firm Hony Capital and later tapped slate financing from Beijing-based Huayi Brothers and investments from China’s Tencent and Hong Kong-based telco PCCW. …

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