Tencent-backed TV Producer raises HKD420m on HK listing
A Tencent-backed Chinese drama series company, Linmon Media, has raised HKD420 million (USD53.5 million) from its IPO on the HKEX.
Herbert Smith Freehills acted as Hong Kong and US counsel for the joint sponsors and underwriters, Morgan Stanley $Morgan Stanley(MS.US$ and the CICC $CICC(03908.HK$ , as Jingtian & Gongcheng acted as PRC counsel.
Herbert Smith Freehills acted as Hong Kong and US counsel for the joint sponsors and underwriters, Morgan Stanley $Morgan Stanley(MS.US$ and the CICC $CICC(03908.HK$ , as Jingtian & Gongcheng acted as PRC counsel.
Some of Linmon Media’s productions had been all the rage, such as Nothing But Thirty, A Little Reunion and A Little Dilemma. Six out of its eight drama series were in the top 20 in China measured by the number of viewers in the past three years, making Linmon one of the five biggest drama producers, according to Frost & Sullivan.
The prospectus shows that Linmon Media seamlessly co-operated with Tencent as they had co-produced six television shows and Tencent’s subsidiary Tencent Mobility holds 18.95% of the shares in the newly listed company.
$Tencent(TCEHY.US$ $TENCENT(00700.HK$ $China Concept Stocks(BK2517.US$ $Hang Seng TECH Index(800700.HK$ $LINMON MEDIA(09857.HK$
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Giovanni Ayala :