National CineMedia reverses losses amid broader market rally

National CineMedia

12/04/2023 14:15

(Updates prices, details)
    ** Shares of National CineMedia Inc  NCMI.O  reverse losses
premarket, tracking equity futures rally after March U.S.
consumer inflation showed signs of cooling  .N 
    ** Stock last up 72% at 35 cents in premarket trading
    ** Earlier, shares had fallen 21% after North America's
biggest cinema advertising firm filed for Chapter 11 bankruptcy
protection and restructuring agreement with lenders
    ** All of company's debt will be converted to equity, as per
the restructuring agreement - NCMI
    ** Company says advertising business to remain functional
    ** Up to last close, stock down 6.3% YTD

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))