Posted on: 14th May, 2019
Cityneon Holdings (“Cityneon”, the “Company”, “城贸控股私人有限公司” collectively with its subsidiaries, the “Group”) is pleased to announce that CITIC Capital Holdings Limited (“CITIC Capital”) has reached an agreement for an investment in new shares of the Group on May 10 2019.
CITIC Capital is an affiliate of CITIC Group, one of China’s largest conglomerates. The leading asset manager has over US$25 billion of assets under management across 100 funds and investment products globally. Some of its landmark investments include McDonald’s franchisee business in mainland China and Hong Kong, and China’s largest privately-owned logistics service provider SF Express.
Cityneon Executive Chairman & Group CEO Ron Tan said, “We are honoured and excited to have a strong and strategic partner like CITIC Capital. This is a testament to the capabilities of Cityneon’s management team and track record. Riding on the growing momentum of consumer trends towards experience entertainment especially in North Asia, this partnership provides a springboard for us to expand our businesses in China and beyond, through the launch and introduction of existing and new Intellectual Properties (“IPs”) under Cityneon’s portfolios.”
Mr Tan added, “We will continue to leverage on our expertise, credentials and relationships with existing and new studios to deliver more unique exhibitions and compelling experiences in markets with high growth potential.”
Cityneon currently partners with major movie and gaming studios globally to secure IPs to hold exclusive exhibitions to create iconic experiences for their audience. These global studios include renowned names like Disney, Marvel, Hasbro, Universal, and Lionsgate. To date, the Group has toured their IPs in excess of 31 cities, and will be making inroads to new cities such as Avengers S.T.A.T.I.O.N. exhibitions in Cardiff, United Kingdom and Santiago, Chile as well as its Jurassic World: The Exhibition in Seoul, South Korea. The Group also recently opened its Hunger Games: The Exhibition at Las Vegas, in partnership with MGM Grand, Las Vegas.
Adding on, Mr Tan said, “Benefitting from the recent strong movie debut of Avengers: Endgame (which has garnered over US$2.5 billion in box office and counting and now already the 2nd highest grossing movie of all time) and the captivating Jurassic World: Fallen Kingdom, we are poised to achieve even greater growth in the years ahead. Moving forward, we seek to partner with new studios and secure further new IPs in the second half of 2019 and 2020.”
Yichen Zhang, CITIC Capital’s Chairman and CEO, said, “We are impressed by the strong portfolio of leading global IPs that Cityneon has assembled, as well as its iconic exhibitions that mesmerize audiences in cities around the world. We are confident that its strong team led by Ron will continue to build on its exclusive relationships with the world’s top studios to bring more unique products to the fast-growing experience entertainment market, and we are excited to help Cityneon grow in China and beyond.”
In addition, the recent completion of a syndication loan exercise in March 2019 led by BNP Paribas, Hang Seng Bank and United Overseas Bank (“UOB”), has further enabled Cityneon to fuel its expansion plans in China and other potential markets.