Posted by: youngragingbull | April 8, 2013

Seaworld plans for $500M IPO

Seaworld Entertainment Inc. plans to raise up to $500 million from its initial public offering, up from an earlier estimate of $100 million, according to a regulatory filing with the SEC on Monday.

The company famous for water shows featuring exotic marine animals did not disclose in its filing how many shares would be in the IPO or what the expected price range would be.

However, the company did disclose that it now plans to list on the New York Stock Exchange, instead of the Nasdaq, but still expects to trade under the “SEAS” ticker symbol.

Seaworld, which had revenue of $1.42 billion in 2012, will remain majority owned by the private equity firm Blackstone Group LP and its affiliates following the offering.

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