Poly Culture Shares Soar in Trading Debut

HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange.

The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%.

With some 64 million units traded, the stock hit a high of HK$44.6 and closed at HK$42.4 apiece.

Spun off many years ago from the People’s Liberation Army-backed China Poly conglomerate, Poly Culture is China’s leading domestic auction house, is a major movie theater manager and film investor.

“The company is expanding its theater and performance business, as urbanization drives demand for entertainment in the country’s second-tier and third-tier cities,” CEO Jiang Yingchun said today in Hong Kong. Poly Culture currently operates 31 multiplex theaters in Mainland China.

More Biz

  • Staff members of online news publisher

    'Young Turks' Reporter Sues HuffPost Over Sexual Assault Report

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

  • Russell Simmons

    Russell Simmons Accused of Sexual Misconduct By Eight Women

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

  • Disney-Fox Deal: Uncertainty, Anxiety Heighten as

    Disney-Fox: Shock, Fear and Uncertainty Heighten in Face of Impending Mega Deal

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

  • Ryan Wiik photographed at his home

    Norwegian Cowboy Actor Settles Lawsuit Against Ex-Lover

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

  • Obit Obituary Placeholder

    Entertainment Attorney Arnold Burk Dies at 85

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

  • WME

    Marcus Levy, Amy Lynch and Andrew Russell Join WME's Comedy Touring Department

    HONG KONG – Shares in Chinese auction house and multiplex owner Poly Culture got off to a blistering start in initial trading Thursday on the Hong Kong Stock Exchange. The issuers set the price at HK$33, at the higher end of the indicated range, but the shared still leaped by 29%. With some 64 million […]

More From Our Brands

Access exclusive content