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Korea’s largest multiplex cinema chain CJ CGV plans to make an initial public offering on the Korean stock exchange. On June 15th, CJ CGV VIETNAM HOLDINGS (CGV Vietnam) sent a preliminary application for an initial public offering (IPO) to the Korean Stock Exchange. “It can vary depending on the schedule of the Korean Exchange, but if it goes as planned, transactions will take place on November once all procedures are completed”, said HWANG Jae-hyun, Head of Communications at CGV. 

CGV Vietnam, a wholly-owned entity of its Korean parent, is currently operating 55 theaters in major cities of the nation, including Ho Chi Minh and Hanoi. Founded in June 2004, the Vietnamese unit acquired the nation’s largest multiplex cinema owner MegaStar Media Company in 2011 and became the largest cinema operator in Vietnam with a 45.3% share in the country’s cinema market at the end of March this year. 

According to the company, the sales of CGV Vietnam were USD 117.7 million (KRW 130.6 billion) in 2017, up 17.6% from USD 100.1 million (KRW 111.1 billion) from the previous year. In the fourth quarter in 2017, its sales were USD 25.2 million (KRW 28 billion), which was an increase of 13.4% over the same period in the previous year. In the first quarter of this year, the company’s total sales reached USD 28.8 million (KRW 32 billion) and its operating profits USD 2.0 million (KRW 2.2 billion).