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AMC aims for $750M in public offering
posted by
Michael Zoldessy
on
December 14, 2006 at 7:45 am
KANSAS CITY, MO — Following in the footsteps of Regal, AMC is testing the waters of going public.
AMC Entertainment Inc. hopes to raise $750 million in its public stock offering, with the proceeds going back to its owners, including J.P. Morgan Partners and Apollo Investment Fund.
The privately held Kansas City-based movie exhibitor, a close second in the U.S. after Regal Entertainment Group, disclosed some details of its potential public offering in a filing late Monday with the Securities and Exchange Commission.
The 392-page filing noted that the public offering hinges in part on the successful initial public offering of National CineMedia LLC, an onscreen advertising company jointly owned by AMC and two of its competitors, Cinemark USA Inc. and Regal.
To read more, go to The Kansas City Star.
Comments (3)
Remember when AMC used to sell stock long time ago? It will be a good bargain, with the opening of a few great theaters, especially the Rockaway 16 plex. Look for the stock to go up in a time when the stock market is really booming!!!
You gotta love it! When the current owners took the company “private” just a few years ago, they forced out many small shareholders (including employees who held the former AMC stock in their retirement holdings)and who did not want to sell. Now these same owners want to go back in and re-line their pockets all over again. To quote Gordon Gecko: “Greed is Good”.
I agree with you, John. Now we have four to five theater stocks. AMC, Regal, Carmike, Cablevision (which owns CLearview), and Marcus.
Pretty soon, they will go down as video chain stocks and Google’s stock goes up, up, up!!!