IMAX applies to list China unit in Hong Kong

May 29, 2015 08:02
IMAX hopes to nearly double the number of theaters in China, like this one in Beijing, that feature its giant screens. Photo: Bloomberg

Big-screen vendor IMAX Corp. has big plans for expansion in one of its biggest growth markets.

The Canadian firm applied Thursday for a Hong Kong listing of its China division, IMAX China Holding, The Wall Street Journal reported.

The parent company is already listed on the New York Stock Exchange.

China is a critical growth market for IMAX and is set to become the company’s largest.

There are 239 IMAX screens in China, with 219 in the pipeline, the firm said.

The country's total box office takings surged 36 percent year on year to US$4.8 billion in 2014, government figures show.

Ticket prices for movies on the giant IMAX screens vary by location. In Beijing, they cost as much as 150 yuan, or roughly US$24.

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