AMC Entertainment shares are trading higher after a court rejected the company's proposed plan to convert preferred shares to common units and implement a stock split.
Portfolio Pulse from Benzinga Newsdesk
A court has rejected AMC Entertainment's proposed plan to convert preferred shares to common shares and implement a stock split. This has led to a rise in AMC's share price.
July 24, 2023 | 12:19 pm
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The court's rejection of AMC's proposed plan has led to a rise in the company's share price.
The court's decision has prevented AMC from increasing the number of its common shares through conversion and a stock split. This has likely led to a decrease in the potential dilution of AMC's shares, which is a positive development for existing shareholders and could explain the rise in AMC's share price.
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