JAKARTA (Yosefardi) – PT Graha Layar Prima, owner of movie theater chain Blitz Megaplex, plans to offer shares through the initial public offering (IPO) in the first quarter of this year.
The company needs fresh funds to develop its cinema business in Indonesia. It will build 4 new cinema studios in Batam, Riau island, partnered with IT consulting company from Korea.
Currently Blitzmegaplex has 10 cinema studios with 90–100 screens. The company now has assets of more than Rp500 billion and equity of less than Rp500 billion.
Blitzmegaplex has cinema studios in Paris Van Jaya mall (Bandung), Grand Indonesia (Jakarta), Pacific Place (Jakarta), Mall of Indonesia (Jakarta), Teraskota Mall (Serpong), Central Park (Jakarta), Bekasi Cyber Park, Plaza Balikpapan, Mal Kepri Batam, and Grand Galaxy Park (Bekasi).
Media earlier reported that Blitz Megaplex had been acquired by Cheil Jedang Cheil Golden (CJ CGV) from South Korea. But Brata Perdana, director of Graha Layar Prima, denied the report and revealed no change in ownership.
Blitz Megaplex is remain listed on the negative investment, so that by regulation this company can not be sold to foreign investors.