News





AMC Entertainment stock rises in market debut

Dec 18, 2013

-By Georg Szalai


AMC Entertainment Holdings, the U.S. movie theatre chain controlled by China's Dalian Wanda Group, saw its stock rise in its market debut on Wednesday. The stock opened up 8 percent and was up 8.8 percent at $19.58 as of 9:45 a.m. ET.


Late Tuesday, the Leawood, Kansas-based company had set its IPO price at $18 per share, the low end of the previously announced $18 to $20 range. That valued the company at roughly $1.7 billion.

The offering of more than 18.4 million shares of Class A common stock raised around $314.2 million before certain items. The company plans to use the net proceeds to retire debt and for general corporate purposes.

The stock started trading on the New York Stock Exchange under ticker symbol "AMC" on a when-issued basis Wednesday, a trial run of sorts, with full regular trading starting Monday.

AMC is the second-largest movie theatre group in the U.S. by revenue behind Regal Entertainment. Its revenue amounted to $2.04 billion in the first nine months of 2013. It has nearly 4,950 screens.

The IPO takes the company public for the first time in nine years after previous attempts had been shelved. Wanda, led by chairman Wang Jianlin, China's richest man, acquired AMC last year for $2.6 billion, including debt. Wanda will retain a roughly 80 percent stake.
—The Hollywood Reporter


AMC Entertainment stock rises in market debut

Dec 18, 2013

-By Georg Szalai


AMC Entertainment Holdings, the U.S. movie theatre chain controlled by China's Dalian Wanda Group, saw its stock rise in its market debut on Wednesday. The stock opened up 8 percent and was up 8.8 percent at $19.58 as of 9:45 a.m. ET.


Late Tuesday, the Leawood, Kansas-based company had set its IPO price at $18 per share, the low end of the previously announced $18 to $20 range. That valued the company at roughly $1.7 billion.

The offering of more than 18.4 million shares of Class A common stock raised around $314.2 million before certain items. The company plans to use the net proceeds to retire debt and for general corporate purposes.

The stock started trading on the New York Stock Exchange under ticker symbol "AMC" on a when-issued basis Wednesday, a trial run of sorts, with full regular trading starting Monday.

AMC is the second-largest movie theatre group in the U.S. by revenue behind Regal Entertainment. Its revenue amounted to $2.04 billion in the first nine months of 2013. It has nearly 4,950 screens.

The IPO takes the company public for the first time in nine years after previous attempts had been shelved. Wanda, led by chairman Wang Jianlin, China's richest man, acquired AMC last year for $2.6 billion, including debt. Wanda will retain a roughly 80 percent stake.
—The Hollywood Reporter

More Cinemas

NAC criticizes Suffolk County food standard legislation

The National Association of Concessionaires calls the Suffolk County, New York legislature resolution to establish healthy food standards at County facilities “Ill-conceived" More »

Marcus Movie Rewards program tops half a million members

Marcus Theatres announced that membership in its Magical Movie Rewards program has reached 500,000 More »

Regal Cinemas searches for 'cheesiest selfie'

From now until August 11, Regal Cinemas and Tostitos are searching for the cheesiest selfie More »

Studio Movie Grill announces coast-to-coast expansion

Studio Movie Grill is stretching to both coasts with new locations announced in Florida, Pennsylvania and California More »

ADVERTISEMENT



REVIEWS

Get On Up
Film Review: Get On Up

Chadwick Boseman is sensational in this multi-faceted portrait of troubled, pioneering soul-music giant James Brown. More »

Guardians of the Galaxy review
Film Review: Guardians of the Galaxy

With Marvel’s backing, cult filmmaker James Gunn blasts off for the stars and takes audiences along for a wild, funny ride. 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