Beijing-based company becomes third Chinese studio to float on China’s home stock market

Beijing-based Enlight Media, a TV and film producer and distributor, has issued a prospectus on the ChiNext growth enterprise board of the Shenzhen Stock Exchange. The company is open for subscription starting today (July 18).

According to the prospectus, Enlight plans to sell 27 million shares, accounting for 25% of its total shares. The money raised in the IPO will be used for production and the expansion of distribution channels.

From July 18-21, Enlight is undergoing a marketing and price-inquiry period for subscribers. Its stock price is scheduled to be set on July 25 and it will officially float on the Shenzhen Stock Exchange on July 26.

Enlight Media is expected to be the third film studio in China to float on China’s home stock market, after Huayi Brothers Media in 2009 and Zhejiang Huace Film and TV in 2010.

Enlight Media is one of China’s largest private TV production companies. Its film company Enlight Pictures is one of the top five Chinese film distributors, investing in and distributing around 10 films per year.  

According to the prospectus, film and TV drama production, entertainment TV programming and TV advertising and live entertainment events are the company’s three revenue streams.

Enlight’s total revenues for 2010 reached $74.13m (RMB479.61 m), up 24.5% on 2009. Net profit attributable to shareholders of the company in 2010 was $17.44m (RMB112.82 m), up 79.9% on 2009.

Revenue from TV and film production reached $23.86m (RMB154.38m) in 2010, up 70.3% on 2009 and accounting for 32.2% of total revenues.

Earlier in June, Enlight Pictures announced new executives and recruited Hong Kong writer and producer Abe Kwang to oversee film production.