Reading B shares surge 31.02% intraday as company explores development options for real estate assets including NYC's Cinemas 123 and Philly's Reading Viaduct to maximize value.

Reading B surged 31.02% intraday, with the company operating cinema networks in the U.S., Australia, and New Zealand under brands like Reading Cinemas, Angelika Film Centers, and Consolidated Theatres, and holding real estate assets such as New York Cinemas 123 and Philadelphia Reading Viaduct, exploring development options to maximize asset value. The company has 132 screens across 11 U.S. locations, 58 screens in 5 Australian locations, and 30 screens in 3 New Zealand locations, while pursuing redevelopment of the Philadelphia site focused on rail bed and bridge system transformation since 2023.