Colorado’s newest public company – National CineMedia Inc. – is expected to premiere on the Nasdaq stock exchange this week.
The Centennial-based operator of digital in-theater networks that sell advertising rights in movie theaters expects to raise around $675 million through an offering of 38 million shares at between $18 to $20 a share.
The company will trade on the Nasdaq under the ticker NCMI.
The company will hold a 40.5 percent stake in National CineMedia LLC. CineMedia’s founders, AMC Entertainment Inc., Cinemark Inc. and Regal Entertainment Group, will own the remainder.
Proceeds from the offering will go to pay off current shareholders and will not be invested in the company itself. National CineMedia Inc. will manage National CineMedia LLC for a fee and collect dividends along with the other owners.
This week will be a busy one for initial public offerings, with more than 14 expected before the closing bell Friday, according to Renaissance Capital, a Connecticut firm that tracks IPOs.
Staff writer Aldo Svaldi can be reached at 303-954-1410 or asvaldi@denverpost.com.
