AMC Entertainment (NYSE: AMC) will turn the lights back on at a host of its cinemas located in New York state. The largest movie theater operator in the world said the reopenings would occur this Friday, Oct. 23, in line with a state government order. All told, 12 AMC theaters will throw open their doors on that day.

Shares of AMC Entertainment (NYSE: AMC) surged on Monday after the company said it plans to reopen its theaters in New York. As of 2:06 p.m. EDT, AMC’s stock was up 20%. AMC was forced to shutter its movie theaters during the early stages of the coronavirus pandemic.

AMC Entertainment shares jumped on Monday after the company said it would begin opening some movie theaters in New York state.

Shares of Cinemark Holdings (NYSE: CNK) were jumping 10% higher in morning trading Monday after New York Gov. Andrew Cuomo said on Saturday that many of the state’s movie theaters could reopen beginning Oct. 23. Only those located within New York City will be prohibited from opening. Movie theaters began reopening in August after having closed their doors for months due to the coronavirus pandemic.

(Bloomberg) — Shares of AMC Entertainment Holdings Inc. and other movie-theater chains surged on Monday after New York Governor Andrew Cuomo announced that some theaters in the state would be able to reopen.AMC jumped as much as 28% to $3.88, the biggest intraday gain in five months. It had been down 58% this year through the end of last week. Cinemark Holdings Inc., meanwhile, climbed 13% to $8.90 on Monday.Cuomo said over the weekend that cinemas can reopen at 25% capacity Friday — excluding locations in New York City and counties with high infection rates — with up to 50 people allowed per screen. He also said ski resorts can open at limited capacity beginning Nov. 6.AMC, the largest cinema company in the world, plans to open about 12 locations in New York state. With the move, the chain expects to have about 530 of its 600 theaters operating again by the end of October.While theaters in the key market of New York City will remain closed, the move is “a positive step toward reopening those theaters in the coming weeks,” B Riley FBR analyst Eric Wold said in a note.The theater industry has been struggling to rebound, and restrictions in New York and Los Angeles have kept its two largest markets closed. It also lacks new blockbuster films from Hollywood, making it harder to attract filmgoers even in areas that have reopened.In the U.S., about 48% of theaters have reopened so far, according to researcher Comscore Inc.New York’s limited cinema opening is “welcome news” for the industry, said Paul Dergarabedian, senior media analyst at Comscore. “As we’ve seen in Los Angeles, those counties within commuting distance of closed cities have seen a notable uptick in attendance.”AMC has said it’s doing everything it can to raise fresh cash to weather the pandemic. Cineworld Group Plc, which runs the Regal chain, has temporarily suspended operations at all its American and British movie theaters.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.