SFX Falls as TomorrowWorld Producer Raises $260 Million

SFX Entertainment Inc., the producer of electronic-music festivals including TomorrowWorld, declined almost 9 percent in its debut after raising $260 million in its U.S. initial public offering.

SFX sold 20 million shares for $13 each, according to a statement yesterday, after offering 16.7 million shares for $11 to $13. They fell $1.11 to $11.89 at the close in New York. The stock is listed on the Nasdaq Stock Market under the symbol SFXE.