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AMC plans to file $450 million IPO this year
posted by
moviebuff82
on
August 20, 2010 at 7:40 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)
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.
Perhaps they’ll be paying the dividends with bedbugs from their new York theater
lol