News





AMC Entertainment plans to raise $368 million in IPO

Dec 4, 2013

-By Clifford Coonan


U.S. movie theatre giant AMC Entertainment Holdings, the chain controlled by China's Dalian Wanda Group, led by the country's richest man Wang Jianlin, plans to raise up to $368 million in an initial public offering that would value the company at up to $1.9 billion.

The Leawood, Kansas-based company will sell 18.4 million Class A shares at $18-$20 each, according to a statement late on Tuesday. It said it plans to use the funds to reduce debt and for general corporate purposes.

AMC is the second-largest theatre group in the U.S. by revenue. It had revenue of $2.04 billion in the first nine months of 2013 and nearly 4,950 screens. The IPO would take the company public for the first time in nine years after previous attempts had been shelved.

Wang's Dalian Wanda, which acquired AMC last year for $2.6 billion, including debt, will retain an 80 percent stake.

Dalian Wanda controls one of China's largest property portfolios, including commercial properties, luxury hotels and cinemas. Chairman Wang said in recent months that the group is planning further moves into the entertainment industry, and in September it unveiled an $8.2 billion studio plan. It also won friends in Hollywood by donating $20 million to the Academy Museum.

AMC filed with regulators in August to raise up to $400 million in its IPO. Citigroup and BofA Merrill Lynch are the lead underwriters for the IPO.
In a filing late last month, AMC said the theatre industry was in transition and there was a greater emphasis right now on sound, picture quality and comfort than on physical expansion.

"It is the ease of use and the amenities that these innovations bring to customers that will drive sustained profitability in the years ahead," AMC said.
—The Hollywood Reporter


AMC Entertainment plans to raise $368 million in IPO

Dec 4, 2013

-By Clifford Coonan


U.S. movie theatre giant AMC Entertainment Holdings, the chain controlled by China's Dalian Wanda Group, led by the country's richest man Wang Jianlin, plans to raise up to $368 million in an initial public offering that would value the company at up to $1.9 billion.

The Leawood, Kansas-based company will sell 18.4 million Class A shares at $18-$20 each, according to a statement late on Tuesday. It said it plans to use the funds to reduce debt and for general corporate purposes.

AMC is the second-largest theatre group in the U.S. by revenue. It had revenue of $2.04 billion in the first nine months of 2013 and nearly 4,950 screens. The IPO would take the company public for the first time in nine years after previous attempts had been shelved.

Wang's Dalian Wanda, which acquired AMC last year for $2.6 billion, including debt, will retain an 80 percent stake.

Dalian Wanda controls one of China's largest property portfolios, including commercial properties, luxury hotels and cinemas. Chairman Wang said in recent months that the group is planning further moves into the entertainment industry, and in September it unveiled an $8.2 billion studio plan. It also won friends in Hollywood by donating $20 million to the Academy Museum.

AMC filed with regulators in August to raise up to $400 million in its IPO. Citigroup and BofA Merrill Lynch are the lead underwriters for the IPO.
In a filing late last month, AMC said the theatre industry was in transition and there was a greater emphasis right now on sound, picture quality and comfort than on physical expansion.

"It is the ease of use and the amenities that these innovations bring to customers that will drive sustained profitability in the years ahead," AMC said.
—The Hollywood Reporter

More Cinemas

National Amusements extends Movio partnership to Showcase Cinemas U.K.

Movio, a company providing marketing data, analysis and campaign creation and management, announced the signing of Showcase Cinemas U.K. More »

Marcus Theatres announces major renovations at select locations

Marcus Theatres announced significant renovations and new amenities at additional locations. More »

Wagner's 'Der Meistersinger' to be broadcast live in cinemas

Metropolitan Opera music director James Levine will conduct Wagner’s epic human comedy Die Meistersinger von Nürnberg in its first-ever “Live in HD” performance More »

'Alice's Adventures in Wonderland' ballet coming to cinemas

Christopher Wheeldon’s ballet Alice’s Adventures in Wonderland will screen in U.S. theatres via Fathom Events More »

ADVERTISEMENT



REVIEWS

Into the Woods
Film Review: Into the Woods

Over-scaled, too dark and only intermittently charming Sondheim musical adaptation does a disservice to a great cast and is often so noisy you can't even appreciate the music. More »

The H obbit: The Battle of the Five Armies
Film Review: The Hobbit: The Battle of the Five Armies

After rewriting the rules for modern fantasy cinema, for the better and worse, Peter Jackson’s six-film Tolkien saga slams, bangs and shudders to a long-overdue conclusion. More »

Player for the Film Journal International website.


ADVERTISEMENT



INDUSTRY GUIDES

» Blue Sheets
FJI's guide to upcoming movie releases, including films in production and development. Check back weekly for the latest additions.

» Distribution Guide
» Equipment Guide
» Exhibition Guide

ORDER A PRINT SUBSCRIPTION

Film Journal International

Subscribe to the monthly print edition of Film Journal International and get the full visual impact of this valuable resource for the cinema business.

» Click Here

SPONSORSHIP OPPORTUNITIES

Learn how to promote your company at the Film Expo Group events: ShowEast, CineEurope, and CineAsia.

» Click Here