Mainland film industry IPOs

Two big Chinese state-owned film studios are planning to sell shares on the Shanghai Stock Exchange in a sign of Beijing's desire to build a film industry that can compete with Hollywood.

China Film and Shanghai Film Group are on a list of companies preparing to go public in Shanghai. The list was posted on the website of the mainland's securities regulator.

No details were provided on how much money they plan to raise or timetables for their initial public offerings. Officials at both firms declined to provide any further information when contacted.

via Business feed http://www.scmp.com/business/money/money-news/article/1094661/mainland-film-industry-ipos