France’s Pathé Aims to Enter Paris Stock Exchange in 2024
variety.comElsa Keslassy International Correspondent Pathé, which operates France’s leading cinema circuit, is planning to enter the Paris stock exchange in 2024, Variety has confirmed.
The company’s president, Jérôme Seydoux, revealed the group’s long-gestated listing project in an interview with the French publication Les Echos.
Seydoux said the company suffered a loss of approximately €100 million during the financial years 2020 and 2021, mainly due to the fact that theaters in France were shut down for a total of 300 days during the pandemic.
While it ruffled feathers by selling “Coda” to Apple at Sundance in 2021 in a splashy $25 million deal, the company was one of the rare French studios which maintained its release plans for major local productions during the health crisis, for instance Martin Bourboulon’s “Eiffel” with Romain Duris and Emma Mackey, and Jean-Jacques Annaud’s “Notre Dame on Fire.” Entering the Paris stock exchange should allow Pathé to pursue its ambitious plans to produce bigger event movies for theaters, and well as upgrade its cinema venues, notably with laser projectors, and expand overseas, including in Sub-Saharan Africa, a spokesperson for Pathé told Variety.
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