RDIB - The Opportunity In The Recovery Of Reading International

• Reading International Inc. operates a cinema and real estate business in the United States, Australia and New Zealand. The market currently values the company as a distressed cinema operator.
• Reading has made optimal use of the global real estate boom by selling real estate at large premiums. Four recent transactions easily compensated for temporary low revenues from cinema operations.
• Reading now has ample cash to survive the final stages of the pandemic, even with Delta variant-related delays or slow vaccination campaigns in New Zealand and Australia.
• Catalysts to improve the current low valuations are new film releases, leasing of the recently refurbished 44 Union Square building and a further recovery of cinema attendance.

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