Shares of AMC Rise 9% in Public Market Debut


Shares of AMC Entertainment Holding Inc , a theater chain controlled by Chinese billionaire Wang Jianlin, rose 9 percent in their debut, valuing the company at about $1.87 billion.

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AMC, the No.2 U.S. theater chain after Regal Entertainment Group, raised about $332 million after pricing its initial public offering of 18.42 million Class A shares at $18 each, the lower end of its expected range of $18-$20.

The company is controlled by China's Dalian Wanda Group, which is headed by Jianlin, the country's richest man, according to Forbes.

AMC shares opened at $19.18 and touched a high of $19.70 in early trading on the New York Stock Exchange on Wednesday.