NEW YORK (AP) - Intrawest Resorts' stock is falling in its first day of trading on the New York Stock Exchange.
NEW YORK (AP) — Intrawest Resorts' stock is falling in its first day of trading on the New York Stock Exchange.
Shares of the mountain resort and adventure company declined $1.16, or 9.8 percent, to $10.84 in morning trading Friday.
The IPO of about 15.6 million shares priced at $12 per share, below the projected range of $15 to $17 per share.
Intrawest Resorts Holdings Inc. raised approximately $187.2 million from the offering.
The Denver company is selling about 3.1 million shares. An entity controlled by certain private equity funds managed by a Fortress Investment Group LLC affiliate is selling approximately 12.5 million shares.
The stock is trading under the "SNOW" ticker symbol.
The offering is targeted to close on Wednesday.