HONG KONG — Chinese distribution and production company Bona Group is poised to receive coin exceeding $30 million from funds controlled by Goldman Sachs, Morgan Stanley and private equity group Bain Capital.
Bona, which is aiming for an overseas share listing when market conditions permit, has backing from China’s state-controlled Poly Group. It previously received $5 million each from Sequoia Capital China and SIG Asia Investments, which is affiliated with Susquehanna Intl. Group (Daily Variety, April 16 and Aug 19).
“A little bit more time is needed to settle the valuation issue, but the deal is expected to be done by the end of this month,” Bona topper Yu Dong told Reuters. Other Bona sources told Variety that the second-round funding could also involve other Chinese investors.