Cinema chain Wanda files to go public

China's largest cinema chain Wanda Cinema Line Corp's prospectus was published on the official website of China Securities Regulatory Commission late on Monday, showing that it planned to issue up to 60 million shares and raise 2 billion yuan.

Wanda Cinema Line has the largest market share in terms of box office revenue for three years in a row. In 2013 its revenue was 4.02 billion yuan, and net profits reached 600 million yuan, according to the prospectus. The company is set to go public on the Shenzhen Stock Exchange.

Another theater chain, State-owned Shanghai Film Group Co Ltd, released its prospectus on Saturday, and it planned to raise 969 million yuan.

By the end of 2013, Wanda Cinema Line has owned 142 theaters and 1,247 screens. Shanghai Film Group Co Ltd has 228 theaters under its management, in which 28 are wholly owned, and 1,223 screens.

Last year, Wanda Cinema Line generated 3.16 billion yuan in box office revenue, accounting for 14.5 percent of the market, while Shanghai Film Group Co grossed 1.88 billion yuan, with a market share of 8.6 percent.