Chinese owner of AMC seeks $1.5 billion for stock sale

Dalian Wanda Group, the Chinese conglomerate planning an IPO for its film unit, is seeking to raise $1.5 billion from domestic Chinese investors for Wanda Pictures, The Wall Street Journal reported.

Wanda Pictures, which makes Chinese language films such as “Mojin: The Lost Legend,“ agreed in January to acquire Legendary Entertainment for $3.5 billion. Its chairman, Wang Jianlin, said in January that Wanda planned to package Legendary with some of its filmmaking and distribution assets for an initial public offering.

Wanda Group also controls Leawood-based AMC Entertainment Holdings, the second-largest movie theater chain.

Bloomberg News

This story was originally published February 24, 2016 at 2:17 PM with the headline "Chinese owner of AMC seeks $1.5 billion for stock sale."