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AMC Entertainment withdraws IPO following acquisition

By: Renaissance Capital
Posted: 9/5/2012 8:57:00 AM
Referenced Stocks: AMC

AMC Entertainment, which owns or operates 380 movie theaters in the US and Canada, officially withdrew its plans for an initial public offering on Wednesday following its acquisition by Chinese conglomerate Wanda Group. AMC had also filed for an IPO in 2006 before subsequently withdrawing in 2007. Later in 2007, AMC filed again for a scaled-back IPO before ultimately withdrawing in 2008. The Kansas City, MO-based company was founded in 1920 and booked $2.5 billion in sales for the 12 months ended 9/29/2011. J.P. Morgan and Goldman Sachs were set to be the joint bookrunners on the deal.