China's Bona film group issues IPO on NASDAQ

16:52, December 10, 2010      

Email | Print | Subscribe | Comments | Forum 

China's Bona film group, Ltd, issued its initial public offerings (IPO) on NASDAQ Thursday, raising approximately 100 million U.S. dollars.

Robert Greifeld, CEO of NASDAQ, said in the opening bell ceremony that Bona is the first Chinese film company to get listed on NASDAQ, and it has made truly remarkable progress by distributing 139 films, including 29 internationally, since its founding seven years ago.

Dong Yu, the founder and CEO of Bona, said that thanks to the rapid development of China's economy, culture and film industry, Bona has the opportunity to stand at a new starting point in history by entering the NASDAQ market.

"The film industry is an industry full of dreams," Dong told Xinhua, "Since Bona's founding, we keep focusing on film making, and will keep on investing, filming and releasing more good films."

The world's output of films is about 5,000 annually. Among them, 500 are produced by the Chinese film industry, according to Dong. "The Chinese film industry is in a rapid developing period, we are confident that we will rake in over 10 billion yuan in box office revenue in China this year."

"The NASDAQ stock market provides us with an international platform." Dong said. "We look forward to enhancing cooperation with international film makers in the future, as well as promoting the convergence of the Chinese and U.S. film market."

Bona Film Group Limited is the largest privately owned film distributor in China, with an integrated business model encompassing film distribution, production, exhibition and talent representation.

It offered 11.7 million American depositary shares ("ADSs") on Thursday's IPO, each two ADSs representing one ordinary share of the company. Bona's IPO price is 8.50 dollars per ADS, and its share closed at 6.59 dollars on its debut day on NASDAQ, down 1.92 dollars compared to its issuing price.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Fireworks light up the Shanghai sky last night on the eve of National Day. Addressing a reception yesterday marking the 62nd anniversary of the founding of the People's Republic of China, Premier Wen Jiabao pledged to improve people's livelihoods and uphold social equality and justice. "We will continue to give top priority to improving people's livelihoods in all our endeavors and address pressing issues directly affecting people's interests," the premier said. Wen vowed to maintain general price stability as well as implement policies to regulate the real estate market and plans for building government-subsidized housing. He said the government will tighten supervision over workplace safety and food and drug safety, improve the social security system, protect the environment and ensure people live happy and secure lives.
  • Chinese President Hu Jintao (C, front) and other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang, walk towards the Monument to the People's Heroes in Tian'anmen Square of Beijing, capital of China, Oct. 1, 2011. China's top leaders laid flower baskets at the monument on Saturday morning to mark the 62th anniversary of the country's founding. (Xinhua/Li Tao)
  • Five-month-old twin girls, An An (left) and Xin Xin, meaning safe and relieved in Chinese and carrying the good wishes of their parents, leave a Shanghai hospital yesterday, less than four weeks after a September 5 surgery to separate the conjoined twins from Zhejiang Province. They were born connected at the liver, chest bone and heart sac, the covering around the heart. Though they shared one liver and used one pericardium, they have their own hearts.
  • Models present cheongsams designed by Chen Yanqin during a fashion show in Yantai, east China's Shandong Province, Sept. 30, 2011. More than 100 creations of cheongsams, a traditional Chinese women's dress also known as mandarin gown or Qipao, were displayed here Friday. (Xinhua/Li Mingfang)
  • Citizens watch fireworks exploding over the Jingtian Lake during a music firework show in Shanghai, east China, Sept. 30, 2011, on the eve of the National Day. (Xinhua/Pei Xin)
  • A member of the media takes a look at a Bluecar, an electric-powered car made by French company Bollore, at a media presentation in Vaucresson, west of Paris, yesterday. The Bluecars have a range of 250 kilometers in urban use and a maximum speed of 130km per hour, and will be available to rent in the streets of Paris under the name of Autolib. The four-seater Bluecars will be positioned at 1,200 stations in the French capital, where customers can pick them up and drop them off, and will be available around the clock. Users must have a valid driver's license and pay a subscription fee to borrow one of the vehicles.
Hot Forum Discussion