Advised by King & Wood Mallesons (KWM), Shanghai Film Co., Ltd. (Shanghai Film) was successfully listed on the main board of Shanghai Stock Exchange (Stock code: 601595) with its initial public offering of A-shares in August 2016. Shanghai Film issued 93.5 million shares at RMB10.19 per share, raising approximately RMB952.765 million. It was another project that has regional and sectoral significance since KWM advised the Shanghai-based portal website Eastday Network on its successful listing on the National Equities Exchange and Quotations in 2015.

Shanghai Film, a subsidiary of Shanghai Film Group Co. Ltd., is mainly engaged in film distribution and projection. It is one of the few companies that control a complete value chain in film distribution and projection, comprised of a professional distribution company, a comprehensive cinema circuit and high-end cinema services. It is a market leader in film distribution and cinema management.

KWM acted as PRC legal counsel for the issuer, providing legal services in all aspects of the project from its inception in 2009 to the successful listing, and winning much accolade and recognition from the client and other advisors. KWM’s legal team was led by partners Zhang Yi, Zhang Mingyuan and Liu Dongya, supported by partner Pan Yujia.

Partner Zhang Mingyuan said, “Great to have assisted Shanghai Film, a well-known cultural enterprise in Shanghai and in China as a whole, in gaining access to the capital market. With a boom of cultural and creative industries, especially the rapid growth of the film industry, the successful IPO of Shanghai Film provides an important inspiration for its peers which are looking for new development opportunities in future.”

Partner Zhang Yi said, “Combining our rich experience in the media and entertainment industry and our leading expertise, KWM is best positioned to advise the clients in the industry on realising their commercial objectives.”