BEIJING, Dec. 9, 2010 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), the largest privately owned film distributor in China, today announced that its initial public offering of 11,740,000 American depositary shares ("ADSs"), each two ADSs representing one ordinary share of the Company, was priced at $8.50 per ADS.The ADSs will begin trading on the NASDAQ Global Market on December 9, 2010 under the symbol "BONA."
Bona is offering 11,740,000 ADSs. The underwriters have been granted a 30-day option to purchase up to an additional 1,761,000 ADSs from the selling shareholders to cover over-allotments. The Company will not receive any of the proceeds from the sale of the ADSs by the selling shareholders.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC acted as joint global coordinators and joint bookrunners, China International Capital Corporation Hong Kong Securities Limited acted as a co-bookrunner, and Piper Jaffray & Co. and Cowen and Company, LLC acted as co-managers for the offering.
Bona's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, One Bryant Park, New York, NY 10036, phone: +1-866-500-5408; or by contacting J.P. Morgan Securities LLC, J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: +1-866-803-9204.
About Bona Film Group Limited
Bona Film Group Limited (Nasdaq:BONA) is the largest privately owned film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Europe, Greater China, Korea, Southeast Asia and the United States, invests and produces movies in a variety of genres, owns and operates six movie theaters and manages a range of talented and popular Chinese artists.
For more information about Bona, please visit http://www.bonafilm.cn.
The Bona Film Group Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8412
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties, Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
CONTACT: In China: Ms. Crystal Wang Bona Film Group Limited Tel: +86-10-6551-0888 Ext. 291 Email: wangting@bonafilm.cn Mr. Derek Mitchell Ogilvy Financial, Beijing Tel: +86-10-8520-6284 Email: bona@ogilvy.com In the U.S.: Ms. Jessica Barist Cohen Ogilvy Financial, New York Tel: +1-646-460-9989 Email: bona@ogilvy.com