HONG KONG — Mini-conglom See Corp. on Tuesday acquired a stake in Golden Harvest, once one of the forerunners of the Hong Kong production scene and still one of Asia’s biggest exhibitors.
See, run by former Emperor Multimedia CEO Carl Chang, bought HK$20 million ($2.58m) of newly issued convertible bonds. If fully converted into shares, See would obtain a 6.4% stake in Golden Harvest’s enlarged equity capital.
See said a stake in one of the largest film distributors in Hong Kong is complementary to its existing entertainment and media businesses. See is cranking up its movie and TV drama production slates and released its first feature, “Super Kid,” in February.
Golden Harvest last year expanded its theater circuits in Taiwan, Malaysia and mainland China, but recorded a loss of $1.66 million.