Expansion-minded Cinema City seeks Hollywood ending through the floor

Cinema City International, owner of the Imax and Cinema City networks, has announced plans to float its shares on the Warsaw Stock Exchange. However, company representatives declined to reveal whether an issue prospectus has already been submitted to the Securities and Stock Exchange Commission. The operator of the largest network of cinemas in this country, Cinema City plans to spend up to EUR 40-50 million from now until the end of 2005 on expanding the number of outlets it operates across the country. So far, the Israeli-based company has already spent zł.400 million on constructing and running 11 cinemas with 118 showrooms and four Imax branded outlets, with the firm's plans envisaging it launching another nine cinema projects, including four this year alone. The company hopes to see a quick expansion of the market, as the frequency of going to a cinema in this country is three times lower than in the rest of the EU. (Puls Biznesu, p. 8; Parkiet, p. 4) A.K