Blackstone Group LP (BX) is attempting a massive IPO.
December 29, 2012- Blackstone Group LP (BX), the owner of Sea World, has filed an Initial Public Offering (IPO) in an attempt to raise one hundred million dollars.
The request was filed on Thursday with United States regulators and the company has indicated that it will be offering its common stock in exchange for investor funds.
Best known for its star attraction at Sea World in Florida, Shamu the killer whale, Blackstone actually owns and operates eleven theme parks, including several Sea Worlds, Busch Gardens and Sesame Place parks, all of which are located in the United States.
The company has selected Goldman Sachs and JPMorgan Securities as its lead underwriters. Interestingly, Reuters reports that Blackstone Group LP had indicated that it would seek between $500 million and $600 million from potential investors in a statement issued earlier this year.
The company currently has more than sixty-seven thousand animals under its care.
The Securities and Exchange Commission (SEC) would not say how many shares of common stock will be sold by Blackstone.
The theme park operator earned $17.1 million in 2011 on revenues of $1.33 billion.
An initial public offering (IPO) or stock market launch is a type of public offering where shares of stock in a company are sold to the general public, on a securities exchange, for the first time. Through this process, a private company transforms into a public company. Initial public offerings are used by companies to raise expansion capital, to possibly monetize the investments of early private investors, and to become publicly traded enterprises. A company selling shares is never required to repay the capital to its public investors. After the IPO, when shares trade freely in the open market, money passes between public investors. Although an IPO offers many advantages, there are also significant disadvantages.*;’*
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