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Report: AMC exploring ODEON & UCI Cinemas Group IPO

AMC Entertainment Holdings Inc. is exploring an initial public offering of London-based ODEON & UCI Cinemas Group Ltd., Reuters reported March 29, citing three sources with knowledge of the matter.

The company is reportedly working with Citi on the IPO, which is expected to happen by mid-2019 and could value ODEON at more than $2 billion.

In November 2016, AMC closed the acquisition of ODEON in a deal valued at about $1.2 billion to become the largest movie exhibition company with 636 theaters and 7,623 screens in eight countries.

The company followed that up by purchasing Nordic Cinema Group Holding AB, the largest theater operator in the Nordic and Baltic countries, in March 2017. The Stockholm-based theater operator is now a subsidiary of ODEON & UCI Cinemas Group.

AMC is owned by Dalian Hexing Investment Co. Ltd.