April 27, 2024
Finance
CGV Vietnam seeks KOSPI listing
[THE INVESTOR] The Vietnamese unit of Korea’s largest multiplex cinema chain CJ CGV is seeking a listing on the benchmark KOSPI bourse, according to news reports on Aug. 3.
The planned IPO of CJ CGV Vietnam would make it the fourth overseas unit of a Korean firm to go public back in the home country. It is the first time for the Seoul-based cinema chain that also operates branches in China, Indonesia, Myanmar, Turkey and the US.
The company is reportedly seeking an IPO advisor with aims to raise as much as 500 billion won (US$443 million). The process might begin as early as the year-end.
The Vietnam unit, with a total of 46 theaters nationwide, owns more than 50 percent market share in the country. Its revenue stood at 111 billion won last year, up 22 percent from 2015, and the operating profit ratio was 10 percent.
CJ CGV, affiliated with food and entertainment giant CJ Group, acquired the local unit for 78.3 billion won in 2011.
By Park Ga-young (gypark@heraldcorp.com)
The planned IPO of CJ CGV Vietnam would make it the fourth overseas unit of a Korean firm to go public back in the home country. It is the first time for the Seoul-based cinema chain that also operates branches in China, Indonesia, Myanmar, Turkey and the US.
The company is reportedly seeking an IPO advisor with aims to raise as much as 500 billion won (US$443 million). The process might begin as early as the year-end.
The Vietnam unit, with a total of 46 theaters nationwide, owns more than 50 percent market share in the country. Its revenue stood at 111 billion won last year, up 22 percent from 2015, and the operating profit ratio was 10 percent.
CJ CGV, affiliated with food and entertainment giant CJ Group, acquired the local unit for 78.3 billion won in 2011.
By Park Ga-young (gypark@heraldcorp.com)
