Cinema XXI (CNMA) Officially Listed on the Stock Exchang

PT Nusantara Sejahtera Raya Tbk. or Cinema XXI conducted an initial public offering (IPO) today (02/08/23) by issuing 8.33 billion new shares. The shares were issued from the company's portfolio or 10 percent of the issued and paid-up capital. The offering price of the shares is Rp270 per share, so that the total funds raised from the IPO amounted to Rp2.25 trillion.

About 65 percent of the funds will be used to fund capital expenditures in the development of the Cinema XXI cinema network throughout Indonesia. Furthermore, around 15 percent of the net funds obtained from the IPO will be used for working capital, including the purchase of goods and services that support Cinema XXI's business activities. The remaining 20 percent will be used to repay part of Cinema XXI's bank debt.