SeaWorld Entertainment shares up 24 percent following IPO
Posted
Shares of SeaWorld Entertainment Inc , backed by Blackstone Group LP, closed up 24 percent in their market debut, valuing the theme park operator at $3.11 billion. The SeaWorld IPO, which raised $702 million, is the latest in a slate of private equity-backed stock offerings in the United States as strong financing markets and a rise in asset values offer an attractive window of opportunity. The company priced the IPO of 26 million shares at $27 each.
Read more from Reuters.
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Ugh. On one hand I want SeaWorld to be a successful company, but on the other I'm kind of hoping the share price tanks.
Yeah, but it enables instant defense. PETA says something stupid at the shareholder meeting, execs say, "So you want us to do something that will hurt the business and shareholder value?" Sounds like a win. It also hurts their credibility. They invested in an "evil" company's IPO!
Jeff - Editor - CoasterBuzz.com - My Blog
Yeah, I thought about that after I said it. Just the fact that they think this would matter is reason enough to discount them in the normal fashion as a bunch of freaks.
Jeff - Editor - CoasterBuzz.com - My Blog
Freaks or not, I suspect their purpose to buying shares has nothing to do with wanting to see the company thrive economically. That said, it seems their share isn't large enough to be anything more than a small annoyance. They'll eventually get bored and go back to killing puppies.
And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun
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