After giving up its majority control over AMC Theatres, Wanda America Entertainment, a U.S.-based division of Wanda, has reaped gains from the recent social media stock surge by the world's largest cinema network.
WAE in an SEC filing on Friday said it had sold 15.6 million shares of AMC Theatres via three tranches for around $220 million.
After converting Wanda's class B common stock to class A common stock on Feb. 1, the filing reveals WAE sold 2.06 million class A shares on the same day at an average price of $14.59 per-share.
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