Polybona Film Distribution eyes NYSE listing

A third leading Chinese movie studio is aiming for a listing - this time on the New York Stock Exchange - as the country's entertainment companies turn to the capital markets to raise funds.

Beijing Polybona Film Distribution Co is aiming to go public in the second half of next year or the first half of 2011, Chief Executive Yu Dong told The Associated Press in a phone interview yesterday. The company will start drafting its listing application early next year, he said.

Polybona's rivals are making similar moves. Huayi Brothers Media Corp debuted on China's new start-up companies market in the southern city of Shenzhen on Friday, surging 148 percent on its first day of trading. The State-run China Film Group is planning to list in Shanghai, spokesman Weng Li said recently.