AMC plans to file $450 million IPO this year

posted by moviebuff82 on August 20, 2010 at 4:40 am

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.

Comments (3)

muviebuf
muviebuf on August 20, 2010 at 4:53 am

The first time that AMC went public it sold a lot of its shares to its employees and their retirement plans. AMC then wanted to take itself private and tried to squeeze its shareholders. The whole mess resulted in a myriad of class action lawsuits.

Be afraid. Those that don’t learn from the past are condemned to repeat it.

movietheatres
movietheatres on August 21, 2010 at 9:59 am

Perhaps they’ll be paying the dividends with bedbugs from their new York theater

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