Superstar shareholders hope for glittering GEM premiere

By Jane Chen | September 28, 2009, Monday |

Online Edition

MORE than 50 Chinese movie stars and film makers hope for dazzling returns on China's new Nasdaq-style market, as Beijing-based Huayi Brothers Media Group has won approval to trade on the Growth Enterprise Market in Shenzhen.

The market's examination committee announced its approval last night of the initial public offering, today's Beijing Morning Post reported. Huayi Brothers will be the nation's first film studio to publicly list its shares.

Huayi Brothers expects to raise 620 million yuan (US$90.81 million) in its offering of 42 million shares, or a quarter of the company's total shares.

Among its superstar shareholders are China's top film director Feng Xiaogang, popular actors Huang Xiaoming and Ren Quan as well as actresses Luo Haiqiong and Li Bingbing.

Feng tops all the star shareholders with 2.8 million shares, ranked 12th among all shareholders. He is expected to garner 100 million yuan in the float.

Huang tops the actors with 1.8 million shares and Luo led the actresses with 540,000 shares.

Brothers Wang Zhongjun and Wang Zhonglei, the company's director and president, have a major stake of a combined 57.8 million shares, accounting for 46 percent of the company's total. Ma Yun, president of Nasdaq-listed Alibaba, follows the brothers with 13.8 million shares, or 10.7 percent of the total.

Nation

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Superstar shareholders hope for glittering GEM premiere

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