SeaWorld Tries to Make a Splash With Its IPO

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SeaWorld Entertainment (NYSE: SEAS  ) started trading on the New York Stock Exchange Friday with an initial public offering of 10 million shares by the company, and 16 million shares offered by the selling stockholders, The Blackstone Group (NYSE: BX  ) . There are 92.7 million shares outstanding after the offering.

The IPO price was listed at $27 a share.

The Blackstone Group had control of SeaWorld Entertainment before the IPO and will continue to have a majority of the voting shares of the outstanding common stock.

SeaWorld says it intends to pay a cash dividend on its common stock. Beginning in the second quarter of 2013, the company will pay a $0.20 dividend each quarter.

SeaWorld Entertainment owns 11 theme parks in all. They are located in Orlando and Tampa, Fla., San Diego, Calif., San Antonio, Texas, Williamsburg, Va., and Langhorne, Pa.

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