When STX Entertainment unveiled ambitious plans in 2018 to make an initial public offering in Hong Kong —which, ultimately, didn't come to fruition — the company expected to raise $500 million at a target valuation of $3.5 billion.
Last Friday, STX surprised the industry with news that it would be merging with Bollywood movie studio Eros International. The combined entity will be named Eros STX Global Corp and listed on the New York Stock Exchange —with an estimated combined valuation of somewhere north of $1 billion.