Prime Focus Ltd to expand into newer markets like Hong Kong, China

Homegrown film editing and processing company, Prime Focus Ltd is expanding to newer markets like Hong Kong, China, Macau and Taiwan. The company's board approved investment of $3 million for a joint venture with AID Capital Partners.

Prime Focus will offer various services including 2D to 3D conversion, Visual Effects (VFX), Clear™ cloud based platform services and post production services in these markets.

In addition, the company will issue optionally convertible preference shares or OCPS, worth $10 million, in Prime Focus World NV, a wholly owned subsidiary of the company AID Partners group. These OCPS will be, convertible to equity of Prime Focus World, NV at a valuation of $250mn, the company said in its release on stock exchanges.