The photo shows the logo of China Film Group Corporation, which was founded in 1999. [Photo: baidu.com]

China Film Group Corporation is planning an initial public offering later this year.

An official with the team underwriting the potential deal says the state-run film production company will launch its public offering when regulators deem the market conditions are mature.

China Film Group has delayed its planned IPO at least three times.

Its last bid at going public was scrubbed in July, when the firm planned to raise over 700-million US dollars on the Shanghai Stock Exchange.

However, this was as the height of the free-fall on the A-Share market, which prompted China Film to withdraw its IPO at that time.

The filing suggests the company plans to invest 27 percent of the money raised into movie and TV series productions, while putting another 26 percent into building more digital cinemas.

China is now the world's second biggest market for films, with the Chinese box office reportedly taking in 6.8 billion US dollars last year.