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Chinese moviegoers buy film tickets at a cinema in Yichang, Hubei province, June 30, 2013. [Photo/dfic.cn] |
M&A transactions are expected to be more active because of a series of new policies.
According to the Third Plenary Session of the 18th Central Committee of the Communist Party of China, Chinese cultural companies are being encouraged to improve their capabilities through mergers and acquisitions.
State-owned cultural enterprises also are required to do restructuring.
Only one company, Wisdom Holdings Group, made its initial public offering in 2013. Its private equity investor, Shenzhen Capital Group Co, received $32.6 million by cashing out.
As of Jan 3 this year, 30 cultural and media companies were in line for IPO approval in the A-share market, and 12 were backed by private equity and venture capital investors.
Financing of television productions also will continue to play an important role in the culture and media sector, Li Jingsheng, an official at the State Administration of Press, Publication, Radio, Film and Television, said at a TV play financial fair.
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