China’s Bona Film Group Valued At $1.5B In Shenzhen Trading Debut – Deadline

China’s Bona Film Group, producer of such hits as The Battle At Lake Changjin, made its debut on the Shenzhen inventory trade on Thursday, with shares closing the day at RMB 7.24 ($1.07). This was a 44% improve from the preliminary public providing worth of RMB 5.03 ($0.74) per share and put the market capitalization at just below RMB 10B ($1.47B), according to the South China Morning Post. The firm raised RMB 1.38B ($203M) from the deal.

Bona returned to the China trade after exiting the Nasdaq and going non-public in 2016. It had beforehand turn out to be the primary Chinese movie studio to commerce on the Nasdaq starting in 2010.

During the pandemic, Bona was behind China’s top-grossing film ever, The Battle At Lake Changjin and its sequel, The Battle At Lake Changjin II (aka Water Gate Bridge). Collectively, the patriotic movies grossed RMB 9.83B ($1.45B at present charges) in China.

In an interview posted to Bona’s web site earlier this week, Chairman and founder Yu Dong, who controls a 20.5% stake in Bona, stated, “In April 2016, I officially bid farewell to the Nasdaq and embarked on the road to return to A shares. On the way back, we have walked for more than seven years, it has been really hard. Although it has been a long time, it does not affect the development of Bona Films, nor does it affect the filmmaking of Bona Films, because focusing on the main business is the innate gene of Bona Films.”

Looking forward, Yu added, “In the next 15 years, we will attract global talents and make good use of capital to make good Chinese stories… Only with the help of capital can Chinese films continue to be supplemented and expanded, with more funds to shoot better films, attract global talents to tell Chinese stories well, and expand our influence to the world.”

This has been a rocky 12 months for field workplace in China total, with the summer season beginning out slowly as a Covid spike pressured closures earlier this 12 months in Shanghai and Beijing. Per state media, nonetheless, the interval has now edged final 12 months’s three-month tally with RMB 7.382B ($1.09B) as of Saturday. Contributing to the rebound have been Universal/Amblin’s Jurassic World Dominion changing into the most important import of the 12 months at over $157M, and native pics Lighting Up The Stars (RMB 1.7B/$250M) and Moon Man (RMB 2.54B/$374M) by Wednesday. Universal/Illumination’s Minions: The Rise Of Gru opens tomorrow.

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