Last year AMC Entertainment Holdings was acquired by Wanda Group, owned by Wang Jianglin. After a year of being acquired, AMC planned to go public as it aimed to raise USD400 million through an initial public offering. This was according to a regulatory filing on Friday. AMC is the second biggest movie theater owner in the US.
The amount intended to be raised through the IPO might change. However, AMC did not disclose the specific number of shares it planned to sell or its price a piece. An IPO would be the latest maneuver for AMC after being bought by Wanda last year. The acquisition for AMC was valued USD2.6 billion including USD2 billion in debt.
At the time of the deal, Wanda's Chairman and President Wang Jianlin said that he aimed to own theaters covering the world market by 20% by 2020. The part of the proceeds from the IPO would be used for capital expenditures and debt reduction. As of June 30, the company had reported debt of USD2.2 billion.
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