IMAX China rises on controlling shareholder's plan to take full ownership

IMAX China Holding

13/07/2023 03:05

** Shares of image maximum (IMAX) theater systems designer
and distributor IMAX China Holding Inc  1970.HK  rise as much as
3.9% to HK$9.48 in resumed trade, after controlling shareholder
offers to take it private 
    ** Cinema operator IMAX  IMAX.N  said on Wednesday it has
proposed to acquire full ownership of its Shanghai-based
subsidiary in a deal valued at about $124 mln 
    ** U.S.-listed IMAX has offered to buy shares of its Hong
Kong-listed subsidiary at HK$10 each, or about 9.7% premium over
the last trading price of HK$9.12 each prior to a trading halt
in early trade on July 11  
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps 2%
and the Hang Seng Consumption Index  .HSCGSI  climbs 1.3%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  rise 1.6% each
    ** As of last close, stock up 29.4% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))