News & Announcements

Weil Advises AMC Entertainment Holdings in its IPO

AMC returns to the stock markets for the first time in nine years
A Weil team is advising AMC Entertainment Holdings (AMC), the second-largest theater chain in North America, in its initial public offering and listing on the New York Stock Exchange. The offering marks the company’s return to the stock markets for the first time in nine years. The issue is comprised of 18,421,053 million shares of Class A common stock that was priced at $18 on December 17, 2013, setting the aggregate value of the offering at approximately $331.5 million. The IPO is expected to close on December 23, 2013.

In an unusual move, AMC offered a small number of its shares to members of its Stubs loyalty program. Members were allowed to buy $100 to $2,500 worth of stock in the IPO without paying fees through Loyal3 Holdings, a start-up brokerage firm focused on small investors.

Founded in 1920, AMC owns and operates 343 locations and 4,950 screens in the United States and Canada and is a subsidiary of Dalian Wanda Group, a leading Chinese private conglomerate and China’s largest investor in cultural and entertainment activities, who will retain an 80 percent stake in the company following the IPO. Weil previously represented AMC in its $2.6 billion sale to Dalian Wanda in 2012.

The New York-based Weil team advising AMC was led by Capital Markets partners Matthew Bloch and Alex Lynch and included Executive Compensation partner Michael Nissan; Tax partner William Horton; SEC Disclosure counsel Lyuba Goltser; Capital Markets associates Suzanne Lee, Aman Singh, Jessica Wang and Meera Sitaram; Executive Compensation associate Daniel Birnhak; and Tax associate Joey Juhn.