Bona Film Group Limited, a leading distributor of domestic films in China, filed on Wednesday with the SEC to raise up to $80 million in an initial public offering. The Beijing-based company, which was founded in 2003, booked $58 million in sales for the 12 months ended September 30. The company is backed by venture funds Sequoia Capital, SIG China and Matrix Partners and plans to list on the NASDAQ under the symbol BONA. Proceeds from the IPO will be used for acquisitions and investment in film productions. BofA Merrill Lynch and J.P. Morgan are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
