TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

SeaWorld stock surges in 1st day on NYSE

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Saturday, April 20, 2013, 12:01 a.m.
 

SeaWorld Entertainment Inc. made a splash Friday in its first day of trading on the New York Stock Exchange.

The owner of theme parks famous for water shows featuring killer whales and dolphins jumped $6.52, or 24 percent, to close at $33.52, after the company and its backers raised $702 million.

The initial public offering of 26 million shares was priced at $27 per share, which was at the high end of the expected range of $24 to $27 per share. The IPO's size increased from the 20 million shares that SeaWorld and its owner, private equity firm Blackstone Group LP, had hoped to sell. The pricing of the offering and boost to its size suggests that there was solid demand for the shares.

The first SeaWorld opened in San Diego in 1964. It was bought by beer giant Anheuser-Busch in 1989 and combined with the brewer's Busch Gardens park in Florida.

The company has grown to span 11 theme parks housing 67,000 animals. Besides the three SeaWorld parks, the company owns two Busch Gardens parks, several water parks and Sesame Place, an amusement park based on the children's TV show Sesame Street. It had net income of $77.4 million on revenue of $1.42 billion in 2012.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Experts: If health insurers’ safeguard goes broke, consumers could pay
  2. Scented society is killing cheap perfume industry
  3. Camera prevalence approaches sci-fi realm
  4. Nike, Under Armour invest in watching exercisers’ steps
  5. Rules could kick door open for nuclear power
  6. Visa limits vex businesses
  7. Paper’s prevalence unlikely to diminish
  8. ‘Promposals’ can be small as burritos, big as Jumbotrons
  9. Mylan raises bid for fellow drugmaker; Perrigo says ‘no’
  10. Tech sector drives gains on Wall Street
  11. MedExpress bought by United Health Group