The nation’s second-biggest theater chain has tried for an IPO more than once in the past, and the last effort was scotched last September after it was officially acquired by China’s Wanda Group in a deal worth $2.6 billion. The acquisition made Wanda the world’s largest global cinema owner. AMC Entertainment unveiled its latest plan today in an SEC filing, though it was short on details other than its suggested $400M offer and that it has applied to list its shares on the NYSE. As of June 30, the company reports, it owned, operated or held interests in 343 theatres with a total of 4,937 screens primarily in North America. AMC may use proceeds from the offering to expand and repay debt. Today’s news comes after AMC reported a Q1 net loss of $7.46M, down from a $727,000 profit in the period last year, on revenues of $577.8M, -9.2%. Admissions revenues fell 10.1% to $382.9M as attendance fell 11.3% to 42.7M. At the end of April, AMC borrowed $925M mostly to refinance existing debt.
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This article was printed from http://www.deadline.com/2013/08/amc-entertainment-ipo-filing/