AMC Entertainment Rises in First Day on NYSE

Wednesday, 18 Dec 2013 10:40 AM

 

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Shares of movie theater operator AMC Entertainment are rising in their first day as a public company.

The stock gained $1.65, or 9.2 percent, to $19.65 in morning trading Wednesday.

AMC Entertainment Holdings Inc. priced the initial public offering of about 18.4 million shares at $18 per share. That's at the low ended of its projected price range of $18 to $20 per share.

The company raised approximately $331.2 million from the offering.

AMC Entertainment owned, operated or held interests in 343 theaters in North America as of Sept. 30. The company said it had about 200 million guests visit its theaters last year.

The shares are trading on the New York Stock Exchange under the "AMC" ticker symbol.

The offering is targeted to close on Monday.

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