Recent News Stories
- Killers to premiere at Midnight in Sundance
- The Second Coming closes deals
- No Man's Land has strong China opening
- Singapore IFF to be relaunched in 2014
- Japanese film-makers protest state secrets bill
- Live-action Attack on Titan relaunched
- South Korean films break local admissions record
- White Storm defies Gravity at China B.O.
- Local documentaries strong at Taipei B.O.
- SPEC finale dethrones Kaguya at Japan B.O.
- In Bloom takes top prize at Tokyo Filmex
- Talent Campus Tokyo awards Filipino project
- Huace strikes pact with Guo Jingming
- Miike Takashi to adapt psycho-thriller manga
- Ang Lee awarded by Cinemanila
- Grandmaster leads Asia-Pacific award nominations
- Yukisada Isao adapts Five Minutes in China
- Great Passage tops 38th Hochi Film Awards
- Dexter Studios opens Beijing office
- Lupin III live-action film coming in 2014
- Fist, Z Storm, Taoist scripts approved by SAPPRFT
- Ant Story premieres in AsiaAfrica competition
- Ghibli back on top with Princess Kaguya
- APSA to host public screenings
- Gravity starves Hunger Games at China B.O.
- Hope wins through at Blue Dragon Awards
- ASEAN Film Festival launches in Singapore
- Beyond Beauty stays strong in Taipei
- Lost in Thailand secures Taiwan import quota
- Tiny Times 3 set to begin production
- Singapore, France major winners at Golden Horse
- Golden Horse Reflections
- RAM locks horns with Moebius
- On Happiness Road takes FPP Grand Prize
- Jimmy Yang joins kbro Media
- Golden Horse Awards at 50
- Forever Young release indefinitely postponed
- CatchPlay launches film investment fund
- Louis Koo to be HKIFF ambassador
- Tony Jaa joins SPL 2
Reliance makes THIRD cash call
By Patrick Frater
Wed, 25 July 2012, 19:21 PM (HKT)
The board of Reliance MediaWorks has given its approval to the facilities and theatres group's third fund-raising exercise on the year.
In a statement the company said that it has authorised a INR600 billion ($110 million) rights issue to existing shareholders. It did not provide details of price, entitlements or timing. But it said that the proceeds would reduce the company's accumulated debts.
Only last week RMW announced a similar sized cash injection and share sale to an unnamed private equity investor involving the digital facilities operations which have now been relocated in a separate RMW subsidiary company.
Last year the board approved a rights issue that might have brought in $130 million of fresh capital, but financial market conditions and mounting losses made that a difficult proposition. Instead, it raised $57 million in April 2012 through a private placing of preference shares.