IMAX CEO Rich Gelfond ASSOCIATED PRESSShares in IMAX, the Canadian-American film technology supplier whose U.S. business has been hurt by fallout from COVID-19, got a lift today from a healthy box office in China during the country’s long New Year holiday. That came after shares in IMAX China, its Hong Kong-traded subsidiary that operates in the world’s most populous country, soared by 31% on Tuesday to HK$18.63 on the company’s holiday gains. The film’s success is giving a boost to China billionaire Wang Jianlin’s mainland film flagship Wanda Film, which released the picture. Wanda’s Shanghai-traded shares rose 4.4% to 22.60 yuan on Feb. 11, the last trading day before the Chinese New Year holiday, which ends on Feb. 17. IMAX has ridden a boom in China’s entertainment spending in the past two decades, building a theater network larger than in the U.S.

Source: Forbes February 17, 2021 04:18 UTC