Information Provided By:
Fly News Breaks for May 28, 2015
IMAX
May 28, 2015 | 09:01 EDT
This morning IMAX announced it filed an IPO application for IMAX China in Hong Kong. Based on comps, Stifel estimates IMAX China will trade around 25x 2016 EV/EBITDA, well ahead of IMAX's current 17.6x 2015 EV/EBITDA, leading the parent company to trade higher. At 25x 2016 EV/EBITDA, IMAX China stub is worth $17 per share and at 30x 2016 EV/EBITDA, it is worth $20 per share, according to the firm. Stifel reiterates its buy rating on IMAX.