Shearman & Sterling Advises on IMAX China’s Hong Kong IPO
Shearman & Sterling advised Morgan Stanley Asia Limited as the sole sponsor and one of the joint bookrunners, along with Goldman Sachs (Asia) L.L.C. and China International Capital Corporation Hong Kong Securities Limited, on the primary listing on the Main Board of The Stock Exchange of Hong Kong Limited of IMAX China holding, Inc. (“IMAX China”), a subsidiary of IMAX Corporation (“IMAX”). The size of the global offering is approximately HK$1.92 billion (US$248 million) (or HK$2.21 billion if the over-allotment option is fully exercised).
IMAX is one of the world’s leading entertainment technology and film companies. IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing.
IMAX China was established by IMAX specifically to oversee the expansion of IMAX's business throughout Greater China. IMAX China expects to use the majority of the net proceeds it will receive from the IPO to expand the IMAX network of theaters in China, as well as to build up its inventory of IMAX theater systems.
The Shearman & Sterling team of lawyers in the firm’s Hong Kong office included capital markets partner Kyungwon (Won) Lee
; counsel Jayesh Wadhwani; associates Leo Wong, Clement Jiang, and Marshall Chu; senior legal assistant Derek Perriam; and trainee Isabella Ma.