China Aims to Reopen Cinemas in Mid-May
Analyst Eric Handler of MKM Partners said that Imax has "multiple years of liquidity" on hand with which to start reopening its screens in China in mid-May, according to The Hollywood Reporter.
Handler believes that Imax will be of the first global exhibition players to be back in business. He said, "We continue to favor Imax among the exhibition related companies. This view is based on the strength of its balance sheet, its high level of liquidity and our expectation it will be the first of the companies to be back in business given its presence in China."
Imax has not commented directly on this analysis.
"Thanks to having $110 million of cash on hand, plus access to $300 million from its revolving credit line, the company has multiple years of liquidity available for itself," Handler added.
Read the original article on The Hollywood Reporter.
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