VHQ Media Holdings believes a local listing will boost its Chinese growth prospects.
Bloomberg reports that movie and television post-production house VHQ Media Holdings Ltd. is planning to spin off its its China arm and list the unit in Hong Kong in an effort to jumpstart its growth in the Chinese movie industry.
The Taipei-listed company is aiming for a flotation in the next 12 to 18 months, VHQ Chairman Low Kok Wah said in an interview in Taipei.
“Our future growth in China will be funded in great part by Hong Kong,” he said. VHQ is also aiming for a fivefold increase in Chinese sales over the next five years, driven by growing revenue from television and internet content. The nation currently contributes around 65% of the company’s revenue.
China is poised to be the largest global box-office market by 2021 with ticket sales speedily growing at a compound annual growth rate of 17.1%.
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