SeaWorld Files for IPO

SeaWorld Parks & Entertainment plans to trade publicly and has filed the preliminary paperwork necessary for an initial public offering (IPO), according to the Orlando Sentinel. The Blackstone Group, which purchased the company in 2009, would keep a controlling stake. The company hopes to raise at least $100 million through the deal.

seaworld

The Orlando Sentinel story reports:

“The IPO comes as SeaWorld’s finances continue to rebound from the global recession. Operating profit ballooned 34 percent to $229 million through the first nine months of this year, according to a regulatory filing with the U.S. Securities and Exchange Commission…The company’s 11 U.S. parks drew 19.9 million people through Sept. 30, up 4.3 percent. SeaWorld said its parks have drawn more than 24 million visitors over the last full year period.”

The company will trade under the symbols SEAS (clever, right?). But the deal is far from being finalized. With Facebook’s shaky IPO earlier this year, I’m sure the SeaWorld executives are working carefully to make sure the transition (if there is one) is smooth.

What are your thoughts on the possible SeaWorld IPO? Share your thoughts in the comments section below.

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