Shanghai's Fundamental Films Plans $61 Million Capital Raise

AP

The company will use the money to fund film and TV projects.

Mark Gao's Shanghai-based production and sales outfit, Fundamental Films, one of China's leading distributors, has announced that it is planning to raise $60.63 million through a capital raise to fund film productions.

Fundamental Films, which collaborates on a number of projects with Luc Besson's EuropaCorp, will raise the money through the issue of 15.07 million shares, the group said in an announcement.

In 2015, Fundamental Film has eight planned films with a total budget of $102.2 million, including the fantasy movie Warrior’s Gate, scripted by Besson, and The Drop, scripted by Jayson Rothwell, both of which will be co-productions.

Last month, Europacorp said Taken 3 would be shown in 3D in China, as Fundamental would release the latest installment of the Liam Neeson trilogy in the enhanced format.

Fundamental also partnered with EuropaCorp on the release of Lucy, and the two are also collaborating on a reboot of the Transporter franchise.

Last year, Fundamental opened offices in Los Angeles and hired Gary Glushon to run their U.S. operations.

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