<article>After delaying its listing plan to the second half of this year, Thailand’s second largest cinema operator <a style="color: #000080;" href="http://www.sfcinemacity.com/">SF Corporation</a> has postponed it again to next year citing volatile market conditions.</article>

After delaying its listing plan to the second half of this year, Thailand’s second largest cinema operator <a style="color: #000080;" href="http://www.sfcinemacity.com/">SF Corporation</a> has postponed it again to next year citing volatile market conditions.
Earlier, it announced to raise 2.5 billion baht from selling 250 million shares in an initial public offering (IPO), aiming to use the proceeds to expand its business domestically and regionally.
“We have prepared everything and are ready for listing on Thai bourse. Unfortunately, the economy has not recovered yet. We have enough money to continue our investment plan at the moment. Once the timing right, we will submit the filing immediately,” said chief operation officer Suvit Thongrompo.
SF Corp plans to invest 800 million baht this year to launch six new cinemas, totaling 40 screens, in Thailand in line with its plan to open 6-7 cinemas per year until 2019.
To date, it has 48 cinemas with total 322 screens and 71,889 seats.
Meanwhile, it keeps exploring the opportunity to tap into Cambodia, Laos, Myanmar and Vietnam. “We have been negotiating with local partners in CLMV, and we expect to have a solid plan for Cambodia and Myanmar next year,” he said.
It targets 5 billion baht in revenue and 300 million baht in the net profit in 2016, an increase of 20 per cent from last year.
Currently, 70 per cent of its revenue is generated from cinema operation while the rest comes from entertainment and restaurant chain business.
SF Corp is privately held and owned by the Thongrompo family, led by Suwat Thongrompo and his younger brother Suvit Thongrompo.
The Thongrompo family has operated cinemas since 1970s in the eastern region of Thailand under the name ‘Samarn Film’ before it opened the first multiplex in Bangkok and changed to SF Cinema City in 1999. It rebranded itself to SF Group in 2007.
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Thailand’s second largest cinema operator SF Corporation has postponed it again to next year as the market keeps volatile and the economy’s climate remains murky.

Thailand: SF Cinema postpones listing plan further to 2017

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Thailand: SF Cinema postpones listing plan further to 2017

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