NEW YORK — Intrawest Resorts’ stock fell on its first day of trading on the New York Stock Exchange.
Shares of the mountain resort and adventure company declined 10 cents, or less than 1 percent, to $11.90 in Friday trading. They had fallen as low as $10.80 earlier in the day.
The IPO of about 15.6 million shares opened below its initial price of $12 per share. The expected price range was $15 to $17 per share.
Intrawest Resorts Holdings Inc., the owner of Steamboat and Winter Park resorts, raised approximately $187.2 million from the offering.
Denver-based Intrawest is selling about 3.1 million shares. An entity controlled by private equity funds managed by a Fortress Investment Group LLC affiliate is selling about 12.5 million shares.
The stock is trading under the “SNOW” ticker symbol.
The offering is targeted to close on Wednesday.
