SF Corporation Plc, the country's second-largest cinema chain, plans to list on the Stock Exchange of Thailand about mid-year to raise 2 billion baht to fund its expansion both domestically and throughout Asean.
The funds raised from the public listing will be used to repay debts and reserved for investment in new cinema projects in Thailand and neighbouring countries.
The company has earmarked 1 billion baht to open 60 new cinemas in both Bangkok and major provinces this year, bringing the total to nearly 350 screens, chief executive Suwat Thongrompo said yesterday.
SF currently has 283 screens in 41 locations nationwide.
"We now have seven new cinema projects with 33 screens under construction in both Bangkok and six major provinces," Mr Suwat said.
"We're confident of securing additional projects in the coming months."
SF will also seek opportunities to make inroads into neighbouring countries in the second half of this year.
It is in talks with shopping mall operators in Cambodia, Laos and Myanmar to open SF cinemas in those countries.
Established in 1999, SF is privately held by the Thongrompo family, and its name first became known among Bangkok moviegoers when it opened a multiplex in MBK shopping centre in that year.
Currently, the chain runs cinemas under many brands including SF Cinema City, SFX Cinema, SF World Cinema, Emprive and SF Multiplex.
Emprive is its latest cinema at The Emporium shopping centre.
The 100-million-baht cinema project reopened on Feb 12 with five screens and 700 seats, down from 1,700 seats before the renovation.
It closed for remodelling last October, and the new concept is more luxurious and cosy.
Seats are bigger, while ticket prices have been adjusted from 200-300 baht to 300-350 baht for executive seats and 700-800 baht for first-class seats.
First-class seats come with unlimited soft drinks and popcorn.
Mr Suwat said the cinema business had picked up after being hurt by the political impasse a year ago.
Thais like watching movies in cinemas, as it is part of the urban lifestyle and among the cheaper forms of entertainment.
This year, the Thai cinema industry is expected to see 9% growth, with ticket sales increasing to 5 billion baht from 4.6 billion last year.
The growth will be driven by a host of Hollywood blockbusters such as Transformers 5, Furious 7, the James Bond film Spectre, Avengers: Age of Ultron and Terminator Genisys.
Major Thai films lined up include King Naresuan 6, the final episode in the franchise.