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Sunday, May 4, 2025

CinemaOne to be first SME on TTSE

by

GEISHA ALONZO
2425 days ago
20180913
CinemaOne Gemstone 4DX, CEO and Director, Ingrid Jahra, left,  Executive Chairman Brian Jahra and FCB Manager Brokerage Services Leslie St Louis chat before the formal launch of the CinemaOne Gemstone 4DX yesterday at One Woodbrook Place.

CinemaOne Gemstone 4DX, CEO and Director, Ingrid Jahra, left, Executive Chairman Brian Jahra and FCB Manager Brokerage Services Leslie St Louis chat before the formal launch of the CinemaOne Gemstone 4DX yesterday at One Woodbrook Place.

SHIRLEY BAHADUR

Cin­e­maONE Lim­it­ed, par­ent com­pa­ny of Dig­i­cel IMAX, Gem­stone and 4DX Cin­e­mas, has made avail­able to in­vestors a 38 per cent stake—3,088,373 shares—through its ini­tial pub­lic of­fer­ing (IPO).

The IPO was an­nounced yes­ter­day morn­ing at Cin­e­maone Ltd’s 4DX au­di­to­ri­um at One Wood­brook Place. The shares, val­ued at $10 each, are avail­able to in­sti­tu­tion­al, cor­po­rate and in­di­vid­ual in­vestors. The IPO will open for a pe­ri­od of four weeks, start­ing from Sep­tem­ber 1 and end­ing on Oc­to­ber 1, and the of­fi­cial list­ing is slat­ed for No­vem­ber 14. One per cent of the shares will be re­served for staff.

Cin­e­maONE will be the first SME list­ed on the T&T Stock Ex­change (TTSE).

CEO In­grid Jahra said af­ter sev­en years, it was time for Cin­e­maONE to take big­ger, bold­er steps as it con­tin­ues to en­hance and strength­en the busi­ness.

“Pro­ceeds from the IPO will fund Cin­e­maONE’s fu­ture de­vel­op­ment which in­cludes ex­pan­sion of the One Wood­brook Place fa­cil­i­ties and the es­tab­lish­ment of Gem­stone at Gulf City, San Fer­nan­do,”she said.

Through the IPO, Cin­e­maONE ex­pects to grow its mar­ket share in lo­cal and re­gion­al mar­kets and ac­cel­er­ate its ex­pan­sion.

The of­fer al­so pro­vides the op­por­tu­ni­ty to spread share own­er­ship and an­chor Cin­e­maONE as a com­mu­ni­ty as­set with­in the mar­kets where it op­er­ates.

“As the first com­pa­ny to list on the SME Ex­change, Cin­e­maONE, is al­so demon­strat­ing its com­mit­ment to the growth of the fi­nan­cial mar­ket in Trinidad and To­ba­go,” Bri­an Jahra, the com­pa­ny’s Ex­ec­u­tive Chair­man and Chief Fi­nan­cial Of­fi­cer said.

“It is al­so fit­ting that we launch our IPO in our sev­enth year of op­er­a­tion at a time when we are look­ing to fur­ther ex­pand not on­ly in Trinidad and To­ba­go but in the re­gion. In fact you are sit­ting in our newest 4DX the­atre,” he added.

Jahra said the com­pa­ny’s cur­rent mar­ket share ranges be­tween eight to ten per cent.

On June 8, 2010, Cin­e­maONE en­tered in­to an ex­clu­sive 15-year IMAX li­cense agree­ment with IMAX Cor­po­ra­tion, in ad­di­tion to two five-year re­new­al pe­ri­ods for a to­tal li­censed pe­ri­od of 25 years.

Leslie St Louis, man­ag­er of Bro­ker­age Ser­vices at First Cit­i­zens, hailed the move say­ing it can en­cour­age oth­er busi­ness­es to fol­low suit.

He said the lo­cal stock ex­change was opened sev­er­al years ago with the ex­pec­ta­tion of broad­en­ing and deep­en­ing the lo­cal cap­i­tal mar­kets to en­cour­age small­er en­ti­ties to view eq­ui­ty in­vest­ing as a re­al op­tion.

“It will al­so pro­vide a wider range of in­vest­ments at pos­si­bly a more af­ford­able price point for the younger in­vestors to get in to the mar­ket,” St Louis said.

He said one of the chal­lenges with reg­u­lar main board in­vest­ments is that a lot of those shares are not trad­ed.


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