Allotment of Cinema City shares
Reduction among retail investors: 95.7%
Cinema City International N.V. ("Cinema City") has allocated more than 18 million shares to investors as part of its IPO. The allotment to retail investors was reduced by 95.65%. The Company’s stock market debut on Warsaw Stock Exchange is scheduled for the coming Friday, 8 December.
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 demand voiced by institutional investors during book-building exceeded ten-fold the number of offer shares).
Today, upon the consent of the Supervisory Board, the Management Board of Cinema City passed a resolution to increase the Company's share capital by way of the issue of 10 million shares. 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 raises more than PLN 190 million gross from the issue of new shares (10 million). The proceeds will be allocated to co-finance the operator's two-year investment plan amounting to EUR 88 million. 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.