This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Live Business
SFX IPO raises $260 million
By Chris Cooke | Published on Wednesday 9 October 2013
Dance music-focused live firm SFX has raised $260 million via its initial pubic offering share sale, according to Bloomberg. The sale confirms the company’s valuation in excess of $1 billion.
Demand for shares in the latest business venture from entertainment industry veteran Robert Sillerman was seemingly high. In the end 20 million shares were sold at $13 each, over three million more than originally intended, and at the upper end of the proposed price tag. The shares will start trading today on the Nasdaq stock exchange.
Sillerman will hold just under half of the stock in the now publicly listed entertainment company, which plans to use monies generated by the IPO to fund further acquisitions in the EDM space.
