Saudi Arabia’s First Movie Chain Plans Landmark IPO
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A Saudi Arabian firm is seeking to become the first movie chain to list in the kingdom and has hired the investment banking arm of Banque Saudi Fransi as an adviser, people familiar with the matter said.
Muvi Cinemas expects to be valued at as much as $800 million in the direct listing, the people said, asking not to be identified as the information is private. The chain may list on the smaller Nomu market as soon as this month, they said.