You will be redirected back to your article in seconds

China’s ‘Iron Man 3’ Producer DMG in $970 Million Listing

HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public.

The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor.

The deal, which involves Gaojin issuing shares to buy up the larger DMG, implies a valuation for DMG of RMB6.01 billion ($970 million).

Following the share issue, Peter Xiao Wenge, DMG’s chairman and biggest shareholder will become the largest individual shareholder of the listed company. 

DMG began as an advertising and television commercial production company, but has also invested in local Chinese film production (Ning Hao’s “No Man Land”) and has handled distribution of certain imported Hollywood independent titles including “Twilight”, “Resident Evil 4,” and “Knowing”.

It co-produced “Iron Man 3” (pictured) with Disney and Marvel and hatched an enhanced Chinese version of the blockbuster.

Transcendence” was co-produced with Alcon Entertainment and DMG recently arranged a PR blast for star Johnny Depp in Beijing. While the film disappointed at the North American box office, it performed strongly in China earning an estimated $11.4 million over the three days from Friday to Sun (April 18-20).

Numerous other Chinese media and entertainment companies, including state-owned Shanghai Film Group and privately owned Wanda Cinema Line, are also seeking stock market listings. Many have had their plans delayed by a government moratorium on IPOs that lasted for over 18 months. While the ban on new listings has now been lifted there is now a Securities Commission-enforced queue.

DMG’s backdoor listing allows it to get ahead of the queue. It is not clear whether the process allows DMG to raise fresh capital, though that is a possibility after the listing is completed. The deal is subject to regulatory approvals which may take a matter of months.

More Biz

  • Tarana Burke. Participants march against sexual

    'Weinstein Effect' Leads to Jump in Sexual Harassment Complaints

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

  • At&t Time Warner Stock Index

    Merger Perks! WarnerMedia Employees Treated to 'Robust' Discounts On AT&T Products

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

  • Norman Pearlstine

    Los Angeles Times Officially Returns to Local Ownership; Norman Pearlstine Named Editor

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

  • Beyonce Jay Z video

    Beyonce and Jay-Z’s ‘Everything Is Love’ Now Available on Apple Music, Spotify, Amazon

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

  • Mike Easterlin & Gregg Nadel

    Warner to Launch Elektra Music Group as Standalone Company

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

  • Seth MacFarlane attends the Fox Networks

    Seth MacFarlane Says He's 'Embarrassed' to Work for Fox

    HONG KONG – DMG, the Chinese company that co-produced “Iron Man 3,” “Looper” and the recent “Transcendence” is in the process of going public. The move is being effected through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, which involves Gaojin issuing shares to buy up […]

More From Our Brands

Access exclusive content