Cinema City sets its sights on fresh stock exchange premiere

"The share issue should take place in the last quarter of 2005 or in Q1 2006. It will depend on the situation on the market," said Mosche Greidinger, managing director of Cinema City International (CCI). Last week, the company became a member of the State Stocks Deposit (KDPW), which took over all of CCI's 40.7 million shares. This was the first step towards its debut, even though CCI has not yet made a final decision. The company wanted to debut on the Warsaw Stock Exchange in December 2004. However, it withdrew on the last day of book building, claiming that it could not guarantee that the liquidity of CCI's shares would be sufficient. Greidinger disclosed that this time a minority stake would be offered to investors. The firm is planning to devote the capital collected from the issue on its development in Poland as well as in other countries. "I believe that by the end of 2006 we will invest EUR20 million," stated Greidinger. (Puls Biznesu, p. 11) A.F.