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Wanda America sells more than $220M in AMC Entertainment stock - Kansas City Business Journal
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Tony s Kansas City: Chinese Investor Dumps AMC
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By Reuters Staff
2 Min Read
FILE PHOTO: People walk past an AMC theatre amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri
SHANGHAI (Reuters) - China’s Wanda Group, the major shareholder in AMC Entertainment Holdings Ltd, conducted a share conversion to permit sales of its stock in the cinema operator, a target of the recent WallStreetBets retail frenzy, AMC said in an exchange filing.
Wanda America Entertainment Inc, a Wanda unit, converted its Class B common stock in AMC to Class A shares on Feb. 1 “in order to permit sales of its common stock,” AMC said in the filing to the United States Securities and Exchange Commission on Feb 5.