RealD IPO raises 33 percent more
NEW YORK/LOS ANGELES, July 15 (Reuters) – California-based RealD Inc (RLD.N), whose 3D technology was used to help make the movie “Avatar” the highest grossing film ever at box offices, on Thursday raised 33 percent more than it had earlier expected from an initial public offering, as it priced an IPO of 12.5 million shares at $16 each.
With shares to begin trading on the New York Stock Exchange on Friday, the company is raising $200 million. It had originally planned to sell 10.75 million shares for $13 to $15 each, an underwriter said.
“It’s pretty self-evident that there was tremendous demand,” said BTIG analyst Richard Greenfield.
RealD said that underwriters will have a 30-day option to buy up to 1.88 million shares at the IPO price.
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