SEC filing from Friday showed that Wanda sold its shares between May 13 and May 18 at around $14 a share, and AMC ended the week on Friday at a price of $12.09.
In March, Chinese conglomerate Wanda said in an SEC filing that it had given up its majority stake in the theater chain AMC Entertainment, operating as AMC Theatres, bringing its ownership down to 9.8%.
It had cut 23% of the company’s outstanding common stock and 47.3% of the combined voting power back on Dec. 31.Wanda had previously acquired the majority stake in AMC Theatres in 2012 for $2.6 billion, the then-largest international acquisition by a privately owned Chinese company.
Read more on thewrap.com
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