AMTD Digital Shares Rise After Partnership With Alibaba Pictures

Dow Jones02-07

By Chris Wack

AMTD Digital shares were up 17% to $3.10 after the company said its AMTD Group and World Media and Entertainment subsidiaries have entered into a comprehensive partnership with Beijing Alibaba Pictures Culture for the production of film, entertainment, contents and fashion media.

Alibaba Pictures Culture is a subsidiary of Alibaba Pictures Group.

AMTD, WME and Alibaba Pictures Culture have committed to collaborating on film investments and promoting the development of the Chinese film industry.

The companies also are planning on long-term collaborations in culture, entertainment and fashion media areas, and jointly exploring, originating and developing domestic and overseas projects.

The stock hit its 52-week low of $2.55 on Jan. 13, and is down 24% in the past 12 months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

February 06, 2025 13:43 ET (18:43 GMT)

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