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Asian shingle goes public

Net proceeds will go towards loan, development, prod'n

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HONG KONG — Shares of Media Asia Entertainment Group began trading on Singapore’s securities exchange Wednesday.

The local producer and distrib’s initial public raised about $8.6 million.

Net proceeds will go toward repaying a short-term revolving bank loan, business development in China and film production.

Company has sought to go public since its successful “Infernal Affairs” feature trilogy bowed in 2003. It chose Singapore as opposed to Hong Kong because legal limitations would have delayed a listing here.

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