AMC plans to file $450 million IPO this year
For the third time in its history, AMC Entertainment will file a $450 million IPO under the ticker symbol “AMC” on an unrelated stock exchange. This comes as revenue for the company has been boosted by rising prices for 3-D and IMAX (and IMAX digital) films as well as concessions.
This is the second attempt at an IPO for Kansas City, Missouri-based AMC. The company first filed for a $500 million IPO in September 2007 but pulled the deal in October 2008 saying it had decided not to proceed with the offering, but did not give a reason.
AMC’s revenue grew 6.7 percent to $2.42 billion in the year ended April 1. The company swung to a $79.91 million profit from a $149.05 million loss a year earlier, according to the new prospectus.
Read more at Reuters.