Sea World Parks and Entertainment, now owned by Blackstone Group LP, would be offering its shares at initial public offering at a price range between US$24 and US$27 per share. At its highest pegged price, the company would be able to raise US $540 million and value the company at US $2.5 billion.
The IPO would be offering 10 million shares from both Seaworld the company and its current shareholders. The proceeds of the IPO would be used to pay off outstanding debt. SeaWorld has applied for an IPO worth US $100 million last December, which was amended to be worth US$500 million.
SeaWorld is best known for its performing sea animals, namely Shamu the Killer Whale. It also owns eleven other theme parks under the SeaWorld name, Busch Gardens and Sesame Place. It has in its care more than 67,000 different animals of different species.
Despite the weak economy, as much as 315 million visitors per year has visited the many theme parks in the United States alone.
SeaWorld was acquired by Blackstone from Anheuser-Busch InBev SA last December 2009 for a cool US$2.3 billion.
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