April 26 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.