By Greg Hazley
Ogilvy Financial handled the U.S. market debut of China-based film distributor Bona Film Group Limited, which went public with a shaky IPO on the NASDAQ Dec. 9.
The WPP firm handled counsel and corporate communication support in Beijing, Hong Kong and New York focused on the investment community. Ogilvy also created its corporate and investor relations websites, a “roadshow” video production and its global media outreach strategy.
Bona shares fell 22 percent in the debut, which sold 1.7M American Depository Receipts at $8.50. Shares are currently trading around $6.10.
The Wall Street Journal noted Bona’s debut, along with another China-U.S. IPO, Sky-mobi [CCG Investor Relations handled that assignment] were the steepest first day declines on New York exchanges since 2007.
The company’s chairman, Dong Uy, and other executives, along with Chinese actress Gong Li, rang the opening bell of the NASDAQ the day of the IPO.
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