Cinemark Holdings files for $400-million IPO

Cinemark Holdings Inc., which owns 392 cinemas in the U.S. and Latin America, filed to sell shares in an initial public offering valued at about $400 million and use the proceeds to pay back debt.

The Plano, Texas, company plans to apply to list its shares on the New York Stock Exchange under the symbol CNK.

The company was created in October when Cinemark Inc. bought Century Theatres Inc. of San Rafael, Calif., for about $681 million and assumed about $360 million in debt.