April 18 Blackstone Group LP's SeaWorld
Entertainment Inc priced its initial public offering of
26 million shares at $27 per share, the top end of its planned
price range, according to an underwriter.
Orlando, Florida-based SeaWorld's IPO raised $702 million
and valued the theme-park operator at slightly over $2.5
The company sold 10 million shares in the offering, with
Blackstone selling the remaining 16 million. The IPO was
increased earlier on Thursday after SeaWorld filed to boost
Blackstone's portion of the share sale.
The shares were expected to be sold at between $24 and $27
Blackstone acquired SeaWorld from brewer Anheuser Busch
InBev SA in December 2009 for $2.3 billion, according
to the private equity firm's website.
Shares of SeaWorld are expected to begin trading on the New
York Stock Exchange under the symbol "SEAS" on Friday.
Goldman Sachs & Co and JP Morgan were the lead underwriters
for the offering.