BERLIN — Munich-based licensing company Intertainment plans to issue 2 million new shares that may bring in around $200 million based on current share prices.
A book-building phase in which the issue price will be determined is expected to be closed by mid July. Intertainment shares closed Friday at 90 euros ($96), down 10% since Wednesday.
The company said it would use the coin to pursue further production pacts akin to its recent agreement with Kopelson Entertainment. That deal, which runs for an initial five years, will see 10-20 pics fully financed by Intertainment.
Company has output deals in place with Original Voices and Franchise Pictures and pan Euro distribution pacts with Warner Bros. and 20th Century Fox.