March 24, 2010 / 1:30 PM / 8 years ago

IMAX plans digital theater system in Singapore

(Reuters) - Canada’s IMAX Corp said it signed an agreement with Shaw Theatres Pte Ltd to install a digital IMAX theater system at Shaw’s Lido Cineplex on Orchard Road in Singapore.

The giant-screen movie operator said the installation is scheduled to open in spring 2011.

This is IMAX’s second deal in Asia this month, as the company moves to expand its presence in the region.

On March 10, the company announced a joint venture with a South Korean theater exhibitor to operate up to 15 new theaters in that country.

Shares of Mississauga, Ontario-based IMAX, which have risen nearly 27 percent in the last three months, closed at C$16.86 Tuesday on the Toronto Stock Exchange.

Reporting by Abhiram Nandakumar in Bangalore; Editing by Mike Miller

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