Hong Kong actor and singer Nicholas Tse, 35, has sold part of his holdings in his commercial and film post-production company, Post Production Office, for NT$590 million (approximately S$25.1 million).
The actor now owns 15 per cent of Post Production Office’s equity, down from 40 per cent, and visual effects company Digital Domain now owns 85 per cent.
Post Production Office’s managing director said that the sale was intended only to bring in the technical expertise of Digital Domain, in response to the Mandarin entertainment market’s increasing demand for visual effects in the last few years.
He said, “Nicholas was very torn about selling his shares, and we tried to persuade him.”
Nicholas founded Post Production Office in 2003 with a partner. The company was recently rumoured to be in financial trouble and planning to lay off staff.