Whistler Blackcomb Resort’s planned IPO doesn’t seem to be offering up much help lately. Fortress Investment Group LLC cut the offered share price for a second time in one week, according to a story on Bloomberg.
Whistler Blackcomb aims to sell shares for C$12 each, with a dividend yield of 8.12 percent, according to the people, who asked not to be identified because the plans aren’t public. The company previously cut its price range from C$14 to C$15 a share down to C$12.50 and C$13 apiece.
Not really sure lowering the price on buying into a debt-ridden resort will make it look any more attractive, but what else can they do?
[Link: Bloomberg]
