Abraaj Group invests in Pakistan-based cinema operator Cinepax

Dubai-based The Abraaj Group on Wednesday announced that it has invested in Pakistan-based cinema operator Cinepax Limited. The group, however, did not disclose the investment amount.

Abraaj will support the company in establishing international standard multiplex cinemas in the new and upcoming locales, and will actively assist with job creation and training of multiplex staff, it said in a statement.

With the latest investment, Cinepax plans to develop 80 new screens across multiple locations over the next four years and also grow other entertainment related ventures, it added.

“Our investment into Cinepax demonstrates our faith in the opportunity that Pakistan’s young growing population and expanding middle class represents. As one of the most active investors in Pakistan, with a strong on-the-ground presence, we see a long-term market opportunity in the cinema operator and video streaming business,” said Omar Lodhi, Partner for Asia at The Abraaj Group.

Arif Baigmohamed and Pir Saad Ahsanuddin established Cinepax in 2006 and launched their first multiplex in 2007. Since then, the company claims to have established itself as the market leader and currently has 29 screens in 12 locations.

“..We continue to see an opportunity to further expand our footprint in not only our core cinema exhibition business, but also new related opportunities, including the digital video space. We are also committed to supporting local talent and the film making industry,” Baigmohamed said.

The Abraaj Group has been present in Pakistan since 2004. This transaction marks the group’s ninth investment into Pakistan across a number of sectors including healthcare, power distribution, renewable energy and industrials. Globally, it currently manages $11 billion across targeted investment strategies.

Also Read:

Abraaj Group eyes structured credit deals in India

West Asian buyout firm Abraaj targets raising mega $8b global fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.