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Imax goes big in China with IPO

Imax goes big in China with IPO

Imax Corp., the big-screen cinema company, is taking a great leap forward in China.

The Toronto company, which has a large operation in Los Angeles, will take an historic step Thursday when its subsidiary goes public on the Hong Kong Stock Exchange. The stock offering will enable Imax to raise some $248 million to help finance its expansion in China, which now accounts for nearly one-third of Imax revenue.

But the IPO is more broadly significant because Imax is the first Hollywood company — and among the first North American businesses — to list shares of a subsidiary in Hong Kong.

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