Hong Kong's Media Asia,producer of the Infernal Affairs trilogy, began trading on the SESDAQ ofthe Stock Exchange of Singapore yesterday (Nov 3).
The IPO attracted strong interest from both institutions and small private investors. The retail tranche was eventually 23 times subscribed.
After the first day of trading the shares were priced at S$0.245, giving the company a market capitalisation of $35.4m ($58.8m).
Through the IPO, Media Asiahas raised approximately $8.6m (S$14.3m), which will be used primarily for filmproduction, the repayment of bank loans and business development in China.
Media Asia is the firstfilm company to get a listing in Singapore. CEO Jerry Liu said: 'Media Asiaalways maintains strong commercial ties with Singapore. The listed status willfurther enhance the company's presence here.'
Actors Jackie Chan and ShuQi were among the guests of honour to strike the gong to mark the company'slisting in Singapore. Chan's company New Focus is one of the shareholders witha 1.9% stake.
Qi is the female lead ofMedia Asia's $5m high profile production, Korea Raiders (working title),a sequel to Jingle Ma's 2000 box office hit Tokyo Raiders.