Pursuits
K-Pop Giant's Cinema Unit Mulls Stake Sales to Fund Growth
- CJ CGV considering IPO of overseas units, executive says
- Korean company seeking to quadruple number of screens by 2020
K-Pop Giant's Unit Considers Sale
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South Korea’s CJ CGV Co. is considering selling stakes in some of its units, including one in China, to help fund its ambitions of turning into one of the world’s biggest operators of movie theaters, according to an executive.
The company is part of the family-run CJ Group, which has businesses ranging from food to K-pop bands and films. CGV is considering initial public offerings of overseas units or bringing in a strategic investor, Executive Vice President Byung-Hwan Choi said in an interview this month in Las Vegas. He didn’t say when the company would make a decision on the possibilities.