MegaStar�s shareholders, Phuong Nam Corporation (PNC) and Envoy Media Partners Limited, have already invested over US$5 million in the start-up cinema company.
Now, Prudential Fund Management Company has sourced, structured, and arranged a facility of $25 million from ANZ.
Later this year the partners expect to further increase their investments in the venture.
MegaStar Media�s first Cineplex, an eight-screen complex of over 1100 seats, will open in April 2006 in Vincom City Towers in central Hanoi.
The company has secured five additional sites and is looking at other locations in Vietnam for opening as many as 10 multiplexes and entertainment centers with up to 100 screens.
In announcing the conclusion of the financing agreement, Envoy Media CEO and Chairman of MegaStar Media, J. Edward Shugrue, said: �This funding facility enables us to accelerate our plans to expand our business in Vietnam substantially.�
�We are looking forward to the opening of our first exhibition center in Vincom City Towers in a matter of weeks. We now have every confidence it will be followed by additional modern, state-of-the-art cinema centers in the very near future.�
Source: Monsters and Critics