Cinema City is taking its silver screens to the bourse

According to Puls Biznesu, the company wants to collect around EUR 50 (zl.128.9) million from the floor. "I will not comment on this information. I can only say that we will allocate all money collected from the floor for investments. Within the next two years we want to spend EUR 88 (zl.334.3) million. We plant to open 25 new multiplex cinemas in Central and Eastern Europe and in Israel," declared Cinema City International's president, Moshe Greidinger. The company wants to offer 15.66 million shares to the investors. Its current owner - IT International Theatres, owned by the Greidinger family - wants to retain the control over the company and keep around 70% of its shares. This is the company's second attempt to debut on the WSE after an ill-fated try in 2004. The company has a 38% share in the Polish cinema market, measured by the value of revenues from the ticket sales, and wants to increase the share to 50% within 2 or 3 years. (Puls Biznesu, pp. 1, 10) E.B.