Foxlink to boost cap­i­tal, ex­pand shares 100% for Fu Shi Lin

The China Post - - LOCAL -

Foxlink’s ( ) board of di­rec­tors an­nounced a cap­i­tal in­crease and share ex­pan­sion by 100 per­cent for sub­sidiary com­pany Fu Shi Lin In­ter­na­tional In­vest­ing ( ), and rein­vest­ment in Cen­tral Pic­tures (

) on April 2. The in­vest­ment in Cen­tral Pic­tures is es­ti­mated to be around NT$900 mil­lion, at NT$60 per share. Foxlink has also ac­quired Cen­tral Pic­ture’s NT$15 mil­lion cap­i­tal in­crease by cash, and a shareholding ra­tio of 13.6 per­cent. Cen­tral Pic­tures’ con­trib­uted cap­i­tal is at NT$703 mil­lion, and in this scheme, the com­pany plans to man­age a cash cap­i­tal in­crease at NT$400 mil­lion, is­su­ing 40 mil­lion or­di­nary shares at a pre­mium, and a NT$60 per share rate. They also es­ti­mate raise NT$2.4 bil­lion in cash to pay back banks, im­prove the com­pany’s fi­nan­cial struc­ture, and de­crease its debt ra­tio from 59.5 per­cent to 33.2 per­cent. Cen­tral Pic­tures op­er­ates mainly in the movie in­dus­try, in­clud­ing cinema man­age­ment, pre-shoot­ing and post-pro­duc­tion, as well as movie in­vest­ments. Cen­tral Pic­tures has in­vested in lo­cal block­busters from Jump Ashin! ( !

) to Seediq Bale (

).

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