IMAX Corp. Adds 6% On News About Full Ownership Of Its China Unit

(RTTNews) - Shares of IMAX Corporation (IMAX) are rising more than 6% Thursday morning after the entertainment company said it will acquire full ownership of its China unit for about $124 million or HK$10 per share, in cash.

Upon completion, the transaction is expected to be accretive to IMAX Corporation earnings immediately.

"The proposed acquisition of IMAX China will enable greater operational flexibility to pursue new growth opportunities and applications of IMAX technology in the Chinese market," the company said.

IMAX, currently at $18.21, has traded in the range of $12.13 - $21.82 in the last 1 year.