1 Min Read
April 26 (Reuters) - U.S. theatre operator AMC Entertainment has shelved plans for an initial public offering for the second time in almost four years, the LA Times reported, citing two people familiar with the matter.
The IPO plan has been scrapped as AMC Entertainment's owners are concerned that market conditions are not ideal for a stock offering, two sources told the newspaper.
The Kansas City, Missouri-based company had filed with U.S. regulators in July 2010 to raise up to $450 million in a stock offering for paying down debt.
Previously, AMC Entertainment had filed for a $500 million IPO in September 2007 but pulled the deal in October 2008, without giving a reason.
Ryan Noonan, a spokesman for AMC, declined to confirm or deny to LA Times whether the plans had officially been abandoned but said: "The IPO process is ongoing and I do not have a time line to share."
AMC Entertainment and the lead underwriters JPMorgan and Goldman Sachs could not be immediately reached for comment by Reuters.