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Top related persons:
Stella Qiu - 1 Upasana Singh - 1 Varun - 1 Daniel Manwaring - 1 Akanksha - 1 Vinay Dwivedi - 1
Top related locs:
China Hong Kong Bengaluru Xinxiang Henan province IMAX China Shanghai Beijing
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HK - 2 Thomson - 2 REUTERS - 1 IMAX - 1

Search resuls for: "IMAX China"


3 mentions found


☆ IMAX's buyout proposal of China unit falls through
  + stars: | 2023-10-10 | by ( ) www.reuters.com   time to read: +1 min
People wait for movie screening at an IMAX theatre inside the Wanda Plaza in Xinxiang, Henan province, China March 23, 2018. REUTERS/Stella Qiu/File Photo Acquire Licensing RightsOct 10 (Reuters) - IMAX China (1970.HK) said on Tuesday that its shareholders have rejected a proposal of its U.S.-based parent (IMAX.N) to buy the remaining stake in the Hong Kong-listed company for about $124 million. IMAX, which currently owns 71.6% of its Chinese subsidiary, had offered to buy IMAX China at HK$10 ($1.28) per share in July, a 49% premium to the 30-day average closing price at the time. The remaining 28.4% stake of IMAX China was valued at about$98.7 million, as of the company's last closing price. IMAX had sought to take full control of its China unit to improve the company's operational flexibility and apply its technology in the Chinese market.
Persons: Stella Qiu, Upasana Singh, Varun Organizations: REUTERS, HK, Thomson Locations: Xinxiang, Henan province, China, Hong Kong, Bengaluru
☆ IMAX proposes to take full control of China unit in $124 mln deal
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: +1 min
July 12 (Reuters) - Cinema operator IMAX (IMAX.N) said on Wednesday it has proposed to acquire full ownership of its Hong Kong-listed, China subsidiary in a deal valued at about $124 million. The acquisition of IMAX China will improve the company's operational flexibility and enable it to apply its technology in the Chinese market, IMAX said. It has offered to buy shares of its Chinese subsidiary at HK$10 each, a 49% premium to their 30-day average closing price. Daniel Manwaring will continue as IMAX China CEO after the completion of the deal and will oversee the local business functions including distribution, marketing and finance, the cinema operator said. IMAX China, established in 2011, will remain headquartered in Shanghai with offices in Beijing.
Persons: Daniel Manwaring, Akanksha, Vinay Dwivedi Organizations: HK, IMAX, Thomson Locations: Hong Kong, China, IMAX China, Shanghai, Beijing, Bengaluru
☆ A strong China open for 'Avatar' lays the ground for a film stock rally, Morgan Stanley says
  + stars: | 2022-12-09 | by ( Christina Cheddar Berk | ) www.cnbc.com   time to read: +4 min
Chinese audiences appear eager to see Disney's "Avatar: The Way of Water," according to initial ticket sales ahead of the film's Dec. 16 opening. In 2009, China accounted for only $910 million in ticket sales, but 10 years later its box office receipts swelled to $8 billion. Stage set for box office recovery Morgan Stanley's Xu expects China's box office to rebound 50% in 2023, to Rmb51 billion, with the assumption that China's reopening gains momentum in the spring. In China, there is a "rich slate of blockbuster films" ready to come to theaters, Xu said. With this in mind, Xu raised her price targets for IMAX China, Ali Pictures, Wanda Film , Enlight and China Film.
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