Cinema City Debuts on Warsaw Stock Exchange

Business | January 7, 2007, Sunday // 00:00

Cinema City International NV ("Cinema City"), which stepped in Bulgaria last year, made a debut on Warsaw Stock Exchange.

The company allocated more than 18 million shares to investors as part of its initial public offering. The allotment to retail investors was reduced by 95.65%.

As part of its IPO, Cinema City has allocated 1.6 million shares to retail investors. The remaining 16.41 million shares has gone into the hands of institutional investors.

The company increased its share capital by way of the issue of 10 million shares, raising more than PLN 190 million gross.

After the increase, Cinema City's paid-up and issued share capital comprises of 50.72 million shares with nominal value of EUR 0.01 per share.

Cinema City is planning to open around 25 multiplex cinemas, including 21 on its existing markets (10 in Poland, 2 in Israel, 1 in Hungary and 4 each in the Czech Republic and Bulgaria) and 4 in Romania.

In Bulgaria the company owns Cinema City multiplex housed at the Mall of Sofia, as well as 3D IMAX cinema, the first multiplex on the Balkans with the impressive 12-hall room.

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