Chiswick Based Cineworld Announces Plans for Stock Market Float

The country’s second largest cinema chain, Cineworld who are based on Power Road, announced plans to float this week.

Shares in the company, currently owned by a private equity group, will offered at between 155p and 185p a share on the London Stock Exchange from Friday 27th April, giving the company an indicative market value of up to £245 million.

Cineworld, which was founded twelve years, is second only to Odean and has 72 multiplex cinemas featuring 753 screens and accounted for 42.9 million cinema admissions in the UK last year.

The company plans to use the proceeds of the stock market float to pay off debt following its 2004 acquisition of rival cinema group UGC.

April 30, 2007