Huayi Brothers plans to float in Hong Kong

Leading private Chinese movie company Huayi Brothers plans to list in China or Hong Kong next year, a news report said Friday, citing the company's co-president.

Hollywood trade publication Variety also quoted Wang Zhonglei as saying on the sidelines of the Pusan International Film Festival in South Korea that Huayi Brothers plans to get into the movie theater business.

"For 2008, our plan is to go public, either in Hong Kong or China, and invest in (movie) exhibition to develop into a high-quality cinema chain," Wang said, Variety reported on its Asian news Web site.

Huayi Brothers is one of most prominent private movie companies in China in an industry where government presence is heavy. The influential state-owned China Film Group is reportedly also planning a share listing on a domestic Chinese market.

Huayi Brothers Media Group includes advertising, movie, pop music and artist management divisions.

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News source: Huayi Brothers plans to float in Hong Kong (Associated Press)

News tag: Huayi Brothers

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Related persons: Feng Xiaogang

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