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AMC Premiers on NYSE

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AMC Entertainment Holdings, the movie theater chain operator priced its initial public offering at $18 a share and raised $332 million in the process. However, the IPO was priced at the lower end of the company’s original estimated price range of $18 to $20 a share. Shares will begin trading today on the NYSE under the ticker AMC.  AMC Entertainment Holdings is owned by the Chinese conglomerate Dalian Wanda Group. AMC is mostly located in metropolitan cities with high rent costs. AMC operates 343 theatres with 4,950 screens.