IMAX Expanding in Indonesia

IMAX Corp. (NYSE: IMAX  ) is expanding again. Following last month's announcements of new theater openings in Russia, the big-screen moviemaker said Tuesday that it has signed an agreement to install eight IMAX theaters around Indonesia, quintupling its presence in the most populous nation in Southeast Asia.

The agreement was signed with Indonesia's largest exhibitor, Cinema 21. In the press release, IMAX did not specify where in Indonesia the new theaters will be built, nor did the company provide any financial specifics on the deal. IMAX CEO Richard L. Gelfond was quoted as saying, "consumer spending and investment remain strong" in Indonesia and "the demand for IMAX continues to build."

In early trading today, investors had bid shares up 0.3% to $26.45 apiece.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2332588, ~/Articles/ArticleHandler.aspx, 9/30/2016 9:39:28 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 12 hours ago Sponsored by:
DOW 18,143.45 -195.79 0.00%
S&P 500 2,151.13 -20.24 0.00%
NASD 5,269.15 -49.39 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 4:02 PM
IMAX $28.78 Down -0.62 +0.00%
IMAX CAPS Rating: *****