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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.