Date
17 October 2017

Poly Culture may raise US$500 mln in HK IPO, paper says

Poly Culture Group Co., Ltd., parent of Beijing Poly international Auction Co., Ltd., aims to list in Hong Kong as soon as early March, with roadshow presentations scheduled for next week, the Shanghai Securities News reported Monday. The state-owned company planned initially to raise up to US$200 million, but may now increase the amount to US$500 million as market sentiment improves. Poly Culture’s core businesses are art auction services, performance and theater management, and cinema investment and management. Poly Culture is understood to have applied to list in Shanghai in February 2012, but the plan was never realized. The company changed its listing destination in September, after applying to Hong Kong Exchanges and Clearing Ltd. CITIC Securities Co., Ltd. (06030.HK, 600030.CN) is the listing underwriter, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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