HONG KONG — Golden Harvest Entertainment has dropped its plan to delist the company after finding new investors to boost its public shareholding.
The film distribution and exhibition company resumed trading Monday after a 10-month suspension.
Golden Harvest and its substantial shareholder, Village Roadshow, announced that they would raise the public shareholding from 7% to about 23%.
Among the new investors, American Intl. Assurance (Bermuda) will take 5 million new shares, or 0.73% of the enlarged share capital.
In addition, the company said it plans to increase the number of screens it operates from 312 to 372 by next year. The number of seats would increase to 98,898.