Parent firm holds off on IPO for AMC
EmptyKANSAS CITY, Mo. (AP) -- The parent company of AMC Entertainment Inc. said Thursday that it was suspending its initial public offering of shares in the theater chain.
Marquee Holdings Inc. cited "adverse market conditions" for the decision.
AMC, operating 382 theaters worldwide with a total of 5,340 screens, is the nation's second-largest theater chain.
Marquee had announced April 19 that it planned to sell 39.5 million shares at an estimated $18-$20 per share, raising $750 million at the midpoint of $19 per share.
The selling stockholders granted underwriters an overallotment option to buy an additional 5.9 million shares.
Marquee had not said when it expected the shares to begin trading.