Imax Proposes $124 Million Buyout Plan for China Unit

What’s new: Imax Corp., the Canadian big-screen cinema operator, has proposed a $124 million plan to buy out its Hong Kong-listed subsidiary that oversees its business in China.

New York-listed Imax offered to acquire the outstanding 96.3 million shares in Shanghai-headquartered Imax China Holding Inc. at HK$10 ($1.30) each in cash, which presents a premium of about 49% to their 30-day average closing price, the company said in a statement on Wednesday.