|Bid||0.8000 x 0|
|Ask||1.2000 x 0|
|Day's range||0.8910 - 1.1500|
|52-week range||0.5680 - 29.3300|
|Beta (5Y monthly)||3.28|
|PE ratio (TTM)||N/A|
|Earnings date||29 May 2023 - 01 Jun 2023|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||09 Apr 2020|
|1y target est||1.17|
A court hearing on 28 June will determie if Cineworld can exit Chapter 11 in time for summer releases such as Barbie and Oppenheimer
The latest investor updates on stocks that are trending on Thursday.
World’s second-largest cinema chain filed for protection to restructure debts but further backing has now been secured
Cineworld is to exit bankruptcy in July, the world's second largest cinema operator announced on Thursday. The British chain, which is listed on the London Stock Exchange, filed for bankruptcy in the US last year as it was weighed down by expansive debt and reported weak audience numbers as it emerged from the COVID-19 pandemic. Throughout the bankruptcy arrangement, the cinemas in the chain operated as normal and last month Cineworld ended plans to sell its UK, US and Ireland businesses, though efforts to auction operations elsewhere continue.
Cineworld shares are down over 99% in value, but its cinemas are making strong revenues. Here's what might be in store for the former FTSE 250 firm. The post Down to only 1p, what hope is left for Cineworld shares? appeared first on The Motley Fool UK.
The world’s second largest cinema chain filed for Chapter 11 bankruptcy in the US last year after being weighed down by its mammoth debts.
The world's second largest movie theatre chain operator after AMC Entertainment filed for U.S. bankruptcy protection in September hoping to restructure its massive debt. Cineworld, owner of Regal in the United States and Picturehouse, Planet and Cinema City across Europe, had scrapped plans to sell some or all its businesses after failing to find a buyer. It instead opted for a restructuring plan that will wipe out its shareholders.
Bankrupt movie theater chain Cineworld received U.S. court approval on Tuesday to raise $2.26 billion as part of its exit from bankruptcy, after reaching a settlement with a minority faction of lenders that had opposed parts of the exit financing. Cineworld is aiming to emerge from Chapter 11 bankruptcy in the first half of 2023, with a proposal to cut $4.53 billion in debt, wipe out existing shareholders and transfer ownership of the company to its lenders. U.S. Bankruptcy Judge Marvin Isgur at a hearing in Houston approved Cineworld's plan to fund its post-bankruptcy operations with a new $1.46 billion loan and the sale of $800 million in new equity shares.
The world's second-largest cinema chain operator after AMC Entertainment placed the majority of its business under U.S. Chapter 11 bankruptcy protection in September. The company's business operations in Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel, clubbed under its 'Rest of World' business, is not under bankruptcy protection and accounted for about 13% of its revenue in 2021.
It still expects to exit bankruptcy protection in the first half of this year, though
London-listed cinema chain to restructure £4bn debt pile after filing for Chapter 11 protection in US
Cineworld, which placed a majority of its business under U.S. Chapter 11 bankruptcy protection in September, last week dropped plans to sell its businesses in the U.S., the UK, and Ireland after failing to find a buyer. The group's chapter 11 companies are seeking to confirm the plan on an "expeditious timeline", Cineworld said, adding that it continues to operate its global business and cinemas as usual without interruption. The plan filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, is yet to be approved.
By Scott Kanowsky
Cineworld expects to exit bankruptcy in the first half of this year
Yahoo Finance Live’s Jared Blikre breaks down the decline in stock for Cineworld.
Cinema chain seeking to raise $2.3bn in new funding as part of debt restructuring plan to exit bankruptcy
Troubled cinema chain Cineworld is terminating plans for the sale of its UK, US and Ireland businesses. The news was announced by the world's second-largest cinema chain on Monday, as it also revealed plans to raise $2.26bn (£1.8bn) in new funding in an effort to get out of bankruptcy protection. The group said it will continue to trade, with "business as usual", meanwhile.
The company said it will raise 2.26 billion US dollars (£1.8 billion) in new funding as part of a plan to exit bankruptcy.
The world's second-largest cinema chain operator behind AMC Entertainment placed the majority of the business under U.S. Chapter 11 bankruptcy protection in September. The plan also includes raising $2.26 billion to emerge from bankruptcy this year.
By Geoffrey Smith
The fundraising will consist of a first lien senior secured debt credit facility of $1.46 billion and issuance of new common stock for an aggregate purchase price of $800 million, according the filing with the U.S. bankruptcy court in the Southern District of Texas. Cineworld filed for U.S. bankruptcy protection in September to try to restructure its debt after being hit by the pandemic and a lack of blockbuster movies.
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A potential management reshuffle would probably mean Greidinger, Cineworld's CEO since 2014, would be forced to relinquish control of his third-generation family business, the report said, citing several people close to the company's top management. Cineworld declined to respond to a Reuters request for comment. The Greidinger family's stake, around a fifth of Cineworld's stock that it owns through a family trust, is likely to be wiped out along with that of other shareholders and unsecured creditors when the bankruptcy process completes, the report said.
Amazon (AMZN) buying AMC (AMC) would be a huge mistake, according to one Wall Street analyst. Speculation spread on Tuesday of a potential bid from the tech giant after a substack post from The Intersect. Shares of AMC spiked more than 15% on the news Tuesday, before Pachter and Wedbush wrote to clients the deal was “unlikely.” Pachter highlights there’s been no indication that AMC wants to sell itself as one of the key reasons the deal is unlikely. And even if AMC did want to sell itself, Amazon could find a more attractive option anyway, according to Pachter. The analyst points to Cineworld (CINE.L), which filed for bankruptcy earlier this year, as a better potential target for Amazon. Given the bankruptcy, Cineworld’s screens could sell for roughly $600 million less than an AMC screen and therefore would be a significantly better purchase. In the video above, Yahoo Finance’s Dave Briggs and Seana Smith discuss the potential purchase with Pachter. Key Video Moments 00:00:05 - Why a Cineworld purchase makes sense 00:01:18 - Pachter explains case for a downgrade on Amazon.
It's never the best sign when activist investor Paul Singer is knocking on your door. Private equity firm CVC Capital Partners and Singer's...