STX Entertainment Eyes August IPO In Hong Kong

By: Dino-Ray Ramos | deadline.com

STX Entertainment, which is known for action features like The Foreigner starring Jackie Chan and Killer’s Game with Jason Statham is looking to go public in Hong Kong in August. If the planned IPO goes through, it would mark the first U.S. company to raise funds in Hong Kong.

According to the South China Morning Post, which announced the news Sunday, John Zhao, chief executive of Hony Capital said that STX has picked Hong Kong  “because the city will offer a better understanding of STX’s business strengths, which marry Hollywood’s storytelling know-how with the Chinese market.” No further details were given about STX’s fundraising plans.

STX CEO Robert Simonds began filing for an IPO on the Hong Kong Stock Exchange in April. The offering is being led by Goldman Sachs and J.P. Morgan.

STX has numerous big name Hong Kong investors from media and entertainment. This includes PCCW as well as Tencent, which provided financial backing for the aforementioned Killer’s Game and the forthcoming Zombie Brother. Alibaba Pictures has also invested in their upcoming sci-fi pic Steel Soldiers. The Foreigner was a big win for Hollywood and China STX as the co-production grossed $144 million globally.

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