Bizarro AIMo part 5
Not satisfied to be the leading stock market for just international technology and mining concerns, the AIM is pressing into the entertainment world. Thanks to a reader, who shares our fascination with the AIM silliness (prior posts include “Bizarro AIMo part 4“, April 25-07), here’s the FT Alphaville piece on Bollywood’s push to raise production and distribution funds on that stock exchange:
“London is emerging as the international fund-raising hub for Bollywood with the third Indian film production company in as many months looking to list on the city’s Alternative Investment Market. Pyramid Saimira Theatres, which operates one of India’s largest cinema chains, is considering a plan to raise $150m by listing a production and distribution unit in London as early as next month. The trend underscores moves by India’s film industry, the world’s most prolific with more than 1,000 productions a year, to develop a formal corporate structure to give it access to larger amounts of capital.”
A $150MM offering might finance, well, one Hollywood big name movie? And don’t the Bollywood casts involve thousands of actors? Wouldn’t have thought $150 million would do it.
Will the Scottish Widows Pension Fund back up the truck on this deal? Send in the clowns….
(hat tip to Paul)