14-09-2010

Multikino to list on Warsaw stock exchange

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WARSAW: By year-end, Polish stockbrokers will be able to trade in shares of the country's leading cinema operator as part of a plan to expand the Multikino chain.

On 13 September the company (www.multikino.pl ) applied to the Polish Financial Supervision Committee and it plans to gather millions of PLN from the public investors to open new cinemas.

The current shareholders of Multikino, ITI Group (www.iti.pl ), with 81 percent of its shares, and AREA Property Partners Fund (www.areapropertypartners.com ), with 14 percent, have said they will sell part of their stock, provided that ITI will maintain a minimum of 51 percent.

"We feel that the Polish cinema market is one of the most attractive in Europe," said Piotr Zygo, president of Multikino. "It is still characterized by the lowest rate of cinema screen availability per citizen and a lower average ticket price than in more developed European countries. That means measurable chances of growth and unique possibilities of development for Multikino.