CineMedia leaps 22% in market bow
EmptyNEW YORK -- Movie theater advertising firm National CineMedia had a hot stock market debut Thursday, with its shares jumping 22.2% to close at $25.67. In intraday trading, the stock went as high as $26.50.
Overnight, the company had priced its initial public offering of 38 million shares at $21 each, above the previously set pricing range of $18-$20 per share, making the IPO the richest of the year to date at a value of $798 million.
The Centennial, Colo.-based company is a joint venture of Regal Entertainment Group, AMC Entertainment and Cinemark Inc.