AMC Entertainment public stock offering raises $331.6M

After a nine-year hiatus, Leawood, Kan.-based AMC Entertainment Inc. is back on the New York Stock Exchange.

Trading under the ticker symbol AMC opened Wednesday. According to an article from the Kansas City Star, during its initial public offering Tuesday, shares representing about 20 percent ownership of the company sold for $18 each and raised $331.6 million.

The cinema giant is the third KC-area company to go public in 2013, following in the footsteps of biopharmaceutical company Aratana Therapeutics Inc. (Nasdaq: PETX) and data center management company QTC Realty Trust Inc. (NYSE: QTS).

AMC has said it will use the money to pay down debt. The Star reports, control of AMC remains with China-based Dalian Wanda Group, which bought the company for $2.6 billion in September 2012.

Read more from the Kansas City Star.