CJ CGV premieres placement

Citigroup''s venture capital arm divests stake.

Korea's largest multiplex cinema chain CJ CGV raised $139.3 million last Thursday April 7 in a deal which saw 23.8% of the company changing hands.

The 4.9 million shares in CJ CGV were priced at KRW 28,700, which represented a 5.9% discount to the stock's close. As a resut of the Citigroup-led deal, Asia Cinema Holdings ACH will see its stake drop from 31.83% to 8%. The stake holding by parent CJ Entertainment remains unchanged at 36.73%.

The deal comes at a time when the stock price has hit a fresh 52-week low. However, some analysts still believe the valuation appears attractive compared with other Korean consumer...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222