China Film Group will list 467 million shares in a listing on the Shanghai Stock Exchange to raise $740 million, according to the China Securities Regulatory Commission, after the listing was delayed earlier this year.
China's film market is the second biggest in the world and has grown rapidly, and the listing by the state film giant is a sign the industry is trying to install an infrastructure for future growth.
The listing news comes after an unprecedented bull run on the Chinese stock market, which has since turned into a bearish run that has seen values fall 20 percent and triggered an interest rate cut by the central bank to revive confidence.
China Film, which has been linked to a listing for many years, plans to issue 467 million new shares at $0.16 (one yuan) per share in its efforts to raise $740 million (4.618 billion yuan) in its Shanghai IPO.
Earlier this year, the group's listing plans were delayed by the regulator because of insufficient documents.
China Film is a colossus in the Chinese film industry. In addition to producing, importing, exporting and distributing films, it also operates theater chains, sells film equipment and manages talent.
The listed unit China Film Company Ltd was co-founded in 2010 by China Film Group with the state broadcaster CCTV, Beijing Gehua Cultural Group, the telecoms firm China Unicom, CNR media group, Hunan TV, Broadcast Intermediary Company, Changchun Film Group and Jiangsu Radio and Television.
Total box-office revenues in the past three years was $720 million in 2012, $730 million in 2013 and $960 million last year. Net profits in those three years were $90 million, $69 million and $80 million.