Sunday, January 21, 2018
Business

SeaWorld Entertainment sells shares in IPO

TAMPA — SeaWorld Entertainment, which owns Busch Gardens and other theme parks, went public on Friday, the fourth shift of ownership for the Tampa theme park since 2008.

The initial public offering will cover 26 million shares of the company's common stock. The stock is selling for $27 per share on the New York Stock Exchange under the ticker symbol SEAS. The offering is expected to close on Wednesday.

Orlando-based SeaWorld Entertainment is expected to receive net proceeds of $254.4 million. Wall Street firms Goldman, Sachs & Co. and J.P. Morgan are handling the IPO, which was announced in December.

SeaWorld Entertainment's parent company, Blackstone Group, brought the parks from Anheuser-Busch InBev in 2009 for $2.7 billion, not long after InBev bought the St. Louis-based beer company.

SeaWorld Entertainment also owns Adventure Island in Tampa, Discovery Cove in Orlando and SeaWorld parks in Orlando, California and Texas.

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Published: 01/20/18