SeaWorld Raises Amount Sought in Initial Offer to $500 Million
SeaWorld Entertainment Inc. (SEAS), the aquatic theme-park operator owned by Blackstone Group LP, boosted the amount it plans to raise from an initial public offering to $500 million.
The company disclosed the new placeholder amount in a regulatory filing today, without setting a specific price range. Orlando-based SeaWorld filed for a U.S. IPO with a $100 million placeholder amount in December.
Blackstone, the world’s biggest private-equity firm, is moving ahead with the IPO as soon as this month after rejecting takeover bids for the theme-park operator, a person familiar with the matter said last week. Apollo Global Management LLC (APO) and Onex Corp. each made bids for Orlando-based SeaWorld, people with knowledge of the matter said in February.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are leading the IPO for the theme-park company. SeaWorld plans to list on the New York Stock Exchange under the symbol SEAS.
Blackstone took control of SeaWorld after agreeing in 2009 to buy Anheuser-Busch InBev NV’s (ABI) amusement-park business in a deal then valued at as much as $2.7 billion. SeaWorld, which competes with Walt Disney Co. (DIS) and Six Flags Entertainment Corp., runs almost a dozen amusement parks in states such as Florida, California and Texas.
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