China Film Company Exploring Ymagis Group Stock Purchase

Bookmark and Share

Thu, 01/19/2017 - 11:34 -- Nick Dager

China Film Company, one of the leading Chinese motion picture and television companies, today issued a press statement to the Shanghai stock exchange announcing its intent to acquire a 15 percent stake in Ymagis SA’s common stock.

Ymagis Group confirmed the existence of advanced discussions with China Film Equipment Corporation, a subsidiary of China Film Company, regarding a long-term business and sales partnership. However, to date, no formal agreement has been concluded or approved by Ymagis Group’s board of directors.

These discussions were part of the Ymagis Group’s strategy to internationalize its activities, including in Asia.

Pursuant to the regulations in force, Ymagis Group will inform the stock market as soon as an agreement has been finalized and approved. Trading of the Ymagis share has been suspended until the release of this statement. Trading will resume tomorrow, January 20, 2017, at the opening of the stock market.