Everyman Cinemas star in stock market debut as it raises £8.1m

EVERYMAN Cinemas, which runs a string of upmarket theatres across London, raised £8.1m in a float on the junior stock market Aim yesterday, giving it a market value of £31m.

The independent chain said it will use the funds to fuel its expansion and strengthen its working capital.

Shares in Everyman, which has 10 branches in Belsize Park, Islington, Hampstead and Maida Vale as well as Leeds and Winchester, jumped 18 per cent from their opening price of 83p in early trading yesterday morning, before settling to close at 97p.

The group has been rumoured as a potential buyer for the Picturehouse cinema venues that Cineworld is being forced to sell as part of its takeover of the group earlier this year, which could see up to three sites sold off.