Independent cinema group Everyman Media (LON:EMAN) has raised £20mln to fund the acquisition of new cinemas.
It is raising the money through a share placing, priced at 85p per share.
Four cinemas will be bought through separate deals with Odeon Cinemas and ABC Cinemas. The sites are in Gerrards Cross, Esher, Muswell Hill and Barnet.
Cash raised in the placing, around £6mln, will also be invested to refurbish the sites up to what it describes as “existing Everyman standards”.
The placing has been arranged by broker Cenkos.