News Summary: China film studios plan stock offers
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Source: Business News
Originally published: Nov 28, 2012 - 11:49 am
Originally published: Nov 28, 2012 - 11:49 am
(AP) - MOVIE IPOs: Two big Chinese state-owned film studios are planning to sell shares on the Shanghai stock exchange in a sign of Beijing's desire to build a film industry that can compete with Hollywood.
THE COMPANIES: China Film Co. and Shanghai Film Group Co. are on a list of companies preparing to go public in Shanghai. The list was posted this week on the website of China's securities regulator.
THE UPSHOT: A stock offering would help the companies raise money for big-budget blockbuster productions rivaling the Hollywood movies that are increasingly popular in China's government-controlled film market.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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