Cinemark Holdings, Inc. announced the pricing of its initial public offering (IPO) of 28,000,000 shares of common stock at $19.00 per share, according to their press release.
Of those shares, 13,888,889 will be offered by Cinemark Holdings while 14,111,111 will be offered by the current stockholders.
Underwriters have also been offered a 30-day option to acquire up to a total of 2,800,000 additional shares of common stock if they are able to sell over 28,000,000 shares. Cinemark won't receive revenue from the shares sold be existing stockholders.
The proceeds from the IPO will be used to partially repurchase senior discount notes or pay off outstanding debt.
Leading the IPO are Merrill Lynch & Co.(MER), Lehman Brothers (LEH), Credit Suisse and Morgan Stanley & Co. Incorporated (MS).
Cinemark owns 396 movie theaters with 4,488 screens in the U.S. and Latin 
America.
The shares will trade on the New York Stock Exchange under the ticker "CNK" on April 24, 2007.
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