'Bad Moms' studio STX is said to be planning an IPO in Hong Kong in 2018

STX Entertainment, the Burbank film and television studio behind the comedy "Bad Moms," is moving closer to a planned initial public offering in Hong Kong. The 3-year-old studio is expected to raise about $500 million on the Hong Kong stock exchange early next year, according to a person familiar with the matter. The company, led by Robert Simonds, its chairman and chief executive, has long signaled intentions to raise money from the public market in Hong Kong but financial details and timing have not been revealed. The Wall Street Journal first reported details of the IPO on Wednesday. A representative of STX declined to comment. An IPO by STX would fit a common pattern of companies hoping to capitalize on Chinese investors' interest in entertainment.