Great Wall Film and Television terminates the fixed increase of nearly 900 million yuan

Great Wall Film and Television announced on the evening of September 14 that in view of the recent major changes in the capital market environment, the company decided to terminate the non-public issuance after comprehensively considering the current financing environment, financing timing and other factors, and after in-depth communication and exchanges with other parties. Stock related matters.

Great Wall Film and Television announced on the evening of September 14 that in view of the recent major changes in the capital market environment, the company decided to terminate the non-public issuance after comprehensively considering the current financing environment, financing timing and other factors, and after in-depth communication and exchanges with other parties. Stock related matters.

According to the fixed increase plan previously released by Great Wall Film and Television, the company plans to issue 50.6952 million shares in a non-public manner at a price of 17.26 yuan/share, and the total amount of funds raised will not exceed 875 million yuan for "bidding high-quality TV drama projects","bidding film projects" and supplementary working capital. The proposed subscribers include Great Wall Fund, Paradise Silicon Valley Letong, etc.

At the same time, Great Wall Film and Television stated that in response to the original fundraising projects "high-quality TV series projects" and "movie projects", the company plans to adjust its financing methods and promote it with self-raised funds. At the same time, the company will continue to implement the "full content, full industry chain" strategy, and use the capital market platform to explore different financing methods such as non-public issuance of shares, issuance of shares to purchase assets and raising supporting funds to achieve two-way driving of endogenous growth and epitaxial expansion.

Editor: yvonne