×
You will be redirected back to your article in seconds

Robert Simonds’ STX Seeking IPO in Hong Kong (Report)

STX Entertainment, Robert Simonds’ ambitious mini-studio, is eyeing an initial public offering of its shares in Hong Kong, according to reports.

Simonds told the South China Morning Post that STX is poised to open an office in Hong Kong and that the special administrative region of China is also his favored location for an IPO. Those moves would position the company well for its role as a gateway between China and Hollywood.

STX already has a number of Chinese investors, including Hony Capital. In a recent funding round he brought in Chinese social media giant Tencent and PCCW, Hong Kong’s largest phones and Internet supplier. It also has a major slate funding deal with China’s Huayi Brothers Media.

Simonds gave no indication of the listing timeframe nor the amount of capital to be raised, but said that the company has no further need of funding before the IPO. “The business itself is sustaining, and the last round of financing gave us the capital we needed to expand all the other businesses besides movies,” Simonds told the SCMP.

Hong Kong is no longer the movie capital of Asia that it was in the 1980s, but its development as a financial center and its common law jurisdiction that is distinct from that of mainland China give it continuing relevance to the movie industry. Flagship Entertainment the joint venture formed late last year between Warner Bros. and China Media Capital has its operation base in Beijing and its legal seat in Hong Kong. The city is also on course to be the world’s IPO capital this year.

STX is currently in post-production on Jackie Chan- and Pierce Brosnan-starring “The Foreigner,” and is working with Hunan TV to develop reality show “Number One Surprise.”

More Biz

  • Mo'Nique

    Mo'Nique Files Race and Sex Discrimination Suit Against Netflix

    Mo’Nique filed a discrimination suit against Netflix on Thursday, alleging that the streaming service broke the law when it gave her a lowball offer for a comedy special. The comedian — whose legal name is Monique Hicks — accused Netflix of race and sex discrimination. In January 2018, Mo’Nique called for a boycott of Netflix, [...]

  • Saugus High School

    Shooting at California's Saugus High School Leaves Two Dead, Multiple Injured

    Two teenagers died and three others were injured after a shooter opened fire on Thursday morning at Saugus High School in Santa Clarita, about 40 miles north of Los Angeles. The shooter, a 16-year-old student, pulled a handgun from his backpack and opened fire on five other students on the school’s quad around 7:30 a.m., [...]

  • Variety New Leaders Agents and Managers

    Variety's New Leaders 2019: These Representatives Are Making a Mark on the Industry

    Every year, Variety seeks to identify the next generation of leaders in the entertainment business, looking for representatives in the creative community, film, TV, music and digital. This year’s group has a heavy New York focus: We selected executives from forward thinking companies such as Spotify, Group Nine and Endeavor Audio, as well as writers [...]

  • Lilly Burns Tony Hernandez

    Jax Media Soars by Amplifying Unique Voices of Auteur TV

    Jax Media has emerged during the past few years as one of television’s busiest and buzziest production companies. The New York-based company headed by four partners — Tony Hernandez, Lilly Burns, John Skidmore and Brooke Posch — has an enviable track record of scouting new voices and executing stylish shows on a less-than-stratospheric budgets. The [...]

  • ELAINE WELTEROTH Variety New Leaders

    Variety's New Leaders: Ronan Farrow, Elaine Welteroth Are Making a Big Social Impact

    Every year, Variety seeks to identify the next generation of leaders in the entertainment business, looking for representatives in the creative community, film, TV, music and digital. This year’s group has a heavy New York focus: We selected executives from forward thinking companies such as Spotify, Group Nine and Endeavor Audio, as well as writers [...]

  • Tommy Thayer, Gene Simmons, Eric Singer,

    Kiss Reveal Final Dates of ‘End of the Road’ Farewell Tour

    Just hours after cancelling their Australia tour due to Paul Stanley’s bout with influenza, Kiss have announced the “last legs” of their “End of the Road” farewell tour. According to the announcement, the trek will officially come to a close on July 21, 2021 at a location in the band’s hometown of New York City [...]

  • Bob IgerSimon Weisenthal Gala honoring Bob

    Bob Iger Joins MasterClass Roster for Course on Business Strategy and Leadership

    Disney chairman-CEO Bob Iger has signed on to the MasterClass digital education service, offering a course in business strategy and leadership. The course, available as of Thursday, will detail Iger’s view on the importance of taking bold steps and embracing mistakes in business. Iger also promises to dig into “case studies” of some of Disney’s [...]

More From Our Brands

Access exclusive content