Last updated: October 09. 2013 1:37PM - 243 Views
Associated Press

Story Tools:

Font Size:

Social Media:

(AP) Shares of SFX Entertainment Inc. are falling in their trading debut Wednesday after the dance music promoter raised $260 million in its initial public offering.

The New York-based company produces dance music events around the world, including Tomorrowland, Electric Zoo and Life in Color. It also operates Beatport, an online music store that sells electronic dance songs.

SFX Entertainment priced its IPO at $13 per share. The stock is down $2.05, or 16 percent, to $10.95 in afternoon trading.

The company says it will use the money it raised to pay for acquisitions. Its shares are trading on the Nasdaq stock exchange under the ticker symbol "SFXE."

Associated Press
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus

Featured Businesses


Info Minute

Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com