IMAX looks to expand Chinese investment

|About: IMAX Corporation (IMAX)|By:, SA News Editor

IMAX (NYSE:IMAX) has reached a deal with Shanghai Film, a Chinese owned film company, to open 19 new theaters in China.

The new foreign investment comes after IMAX's Chinese revenue boost last year which rose 26% to $56.5M from 2012, and ahead of a planned public listing of its China operations.

The company expects to open the new theaters in the second half of 2015 and plans on adding more than 246 screens in the next five years.