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Media Asia begins trading in Singapore

World Brief

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

The local producer and distrib’s initial public offering 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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