LONDON — Polish pay TV cinema distributor Kino Polska Television is to go public with a stock market offering expected to raise up to $14 million.
Kino Polska intends to use the funds to introduce new thematic channels for its pay TV outlets, which include Kino Polska HD and FilmBox.
Piotr Reisch, president of Kino Polska TV management board, said the company’s goals were to become the leading player in premium thematic TV in Central and Eastern Europe.
The public offering will also enable the company to ramp up work on digitalizing its film library and increase film production, Reisch added.
The company already produces channels for the Czech, Slovakian, Hungarian, Romanian and Spanish markets.
The IPO reflects the fact that Polish pay TV market is one of Europe’s strongest.
Last year Kino Polska TV achieved revenue of around $16 million and profits of over $3 million.