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Cinema chain AMC Entertainment plans to raise up to $368 million from IPO
December 2, 2013 / 11:31 PM / 4 years ago

Cinema chain AMC Entertainment plans to raise up to $368 million from IPO

Gerry Lopez (R), chief executive of AMC Entertainment, listens to a question next to Wang Jianlin, president of Wanda Group, during a media conference after an official signing ceremony in Beijing May 21, 2012. REUTERS/David Gray

(Reuters) - U.S. cinema chain AMC Entertainment Holdings Inc plans to raise as much as $368 million from an initial public offering of 18.4 million Class A shares.

The company said it expects its offering to be priced in the range of $18 to $20 per share and will use the proceeds primarily to repay debt.

AMC, bought by China’s Wanda Group last year in a $2.6 billion deal, filed with regulators in August to raise up to $400 million in its IPO.

The details about the share sale were not immediately clear as the company said its registration statement with the Securities and Exchange Commission was yet to become effective.

AMC, which had first filed to go public in 2007 before withdrawing its filing a year later, has applied to list its Class A shares on the New York Stock Exchange under the symbol “AMC”.

The company owned, operated or held interests in 343 theaters with a total of 4,937 screens, primarily in North America, as of June 30.

Citigroup and BofA Merrill Lynch are the lead underwriters for the IPO.

Reporting by Aman Shah in Bangalore; Editing by Maju Samuel

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