China's Wanda Eyeing IPO of Film Operations
"Our theater assets have been listed and we also want to list the filmmaking and publication assets," chairman Wang Jianlin says in a magazine interview.
Dalian Wanda Group, the Chinese conglomerate that owns movie units, cinemas, the AMC Entertainment exhibition chain in the U.S. and other businesses, is planning a stock-market listing for its film production and distribution units within a year.
Wanda chairman Wang Jianlin told business magazine Caixin about the plans in a recent interview.
"Our theater assets have been listed and we also want to list the filmmaking and publication assets," he said. "But we have not decided whether to repackage the listed assets or list them separately."
Earlier this year, mainland China put a stop to all IPOs amid stock-market volatility. Authorities have recently signaled that IPOs may be allowed again in the near future.
Earlier this year, Wanda launched a stock-market listing of Wanda Cinema Line, China's largest movie-theater operator. The stock soared in its market debut.
Asked about his appetite for acquisitions in the entertainment space, Wang told Caixin: "There will be more acquisitions in both the movie and sports sectors. Our goal is to have a filmmaking asset listed by the end of next year."
He added: "Our sports segment will be mature by 2017. Wanda will also get involved in a series of sporting events, which are set to be announced around Chinese New Year 2016. That's when everyone will understand our values and what we are doing."