Nearly four years after Saudi Arabia allowed movie theaters to reopen after being shuttered for 35 years, a locally based movie chain operator is seeking to become publicly traded.
What Happened: According to a Bloomberg report citing unnamed “people familiar with the matter," Muvi Cinemas has hired the investment banking arm of Banque Saudi Fransi as an adviser in a planned initial public offering. The company expects to be valued at as much as $800 million and is aiming to be listed on Saudi Arabia’s Nomu parallel equity market later this month.
