Soon to be flush with cash, Golden Harvest, one of the most iconic names in Asian cinema, is planning a return to film production and distribution. The move is expected to follow the recently agreed sale of parent company Orange Sky Golden Harvest’s entire exhibition business in China.
OSGH last week announced final terms for the disposal of its loss-making chain of mainland theaters. Nan Hai, parent of Dadi, China’s No. 2 cinema chain, is the buyer. The sale will give OSGH net proceeds of $463 million (HK$3.59 billion.)
OSGH now says that it has earmarked some $168 million (HK$1.3 billion) for expansion of its existing business areas, including production, distribution, and cinema ownership outside mainland China.
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