Robert Simonds, Chairman/CEO says STX Entertainment – the Hollywood start-up whose investors also include PCCW and Hony Capital – is finalising plans to open an office in Hong Kong and that it is the company’s preferred location for a stock market listing.
In August, Chinese tech giant Tencent and Hong Kong telecoms company PCCW bought equity stakes in the Los Angeles-based studio. Earlier investors include Hony Capital, the private equity arm of Legend Holdings.
Simonds said, “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”.
John Zhao, CEO of Hony Capital, said that since Hony’s investment in 2014 the market value of STX had grown six fold.