SeaWorld Entertainment Inc Registers for IPO

.

SeaWorld Entertainment Inc Registers for IPO

It has been lately revealed in a report that SeaWorld Entertainment Inc has filed itself with the Securities and Exchange Commission. The report says that the aim of the company is to carry out an initial public offering of stock.

The firm is the parent company of SeaWorld San Diego, which hopes to raise some $100 million by conducting the public offering. Based in Florida, SeaWorld Entertainment Inc. is managed by the private equity firm Blackstone Group, which is based in the New York City.

The report has unveiled that Blackstone Group is likely to sell a part of its stake. However, it itself would remain the owner of a majority following the IPO. IPO proceeds, as per the filing, would be utilized to repay company debt, which as of September 30 was noted at $1.8 billion.

Headquartered in Orlando, the company runs 10 parks across the nation, and for the year ending September, it has reported $1.4 billion in sales. Its plan is to list itself under the symbol SEAS. As per the findings, the planned offering's date, pricing and number of shares to be issued by the firm are not yet out.

Meanwhile, it has been found that Knott's Soak City, which is in Chula Vista, was recently acquired by the firm, which would probably be reopened as Aquatica San Diego in the spring.

 


Latest News

Feds Expected to Trim Bond Purchases, Could Also Offer Hazy Clues on Interest Ra
After First Six Months of Sales Toyota Remains at Top
McDonald's Franchisee ruling Gives Rise to Business-Labour Arguments
Breakage in Main Pipe Causes Havoc in UCLA
Southwest Airlines to Be Charged a Fine of $12 million Over Issues Related to Re
Zillow to Purchase Trulia; A Merger That Will Create a Real Estate Giant Listing
More than One Third of Americans Debt Offenders
Video Shows Baby Turtles Heading to Sea
Bear Stearns, Alan 'Ace' Greenberg, dies at 86
Former U.S. official Says President Obama Could Restrain Corporate 'Inversions'
As U.S. Stocks Ascend, NYC Pension Funds Report 17.4%  Returns on Investments
Food Scandal in China, Parent Company to Investigate Matters