WorldSpace Raises $241.5 Million in IPO

Authored by Mark Hefflinger on August 4, 2005 - 5:26am.

Washington, DC -- WorldSpace, a provider of satellite radio services in Asia, Europe, the Middle East and Africa, has raised $241.5 million in its initial public offering after pricing at $21 a share, the high end of its revised range. Investors reacted enthusiastically to the offering, with the company's stock -- trading on the Nasdaq under the symbol "WRSP" -- opening at $24.10 before settling at around $23 in Thursday's late trading. Selling shareholders also made an additional $7.7 million in the IPO. The company, which last month received a $25 million investment as part of a business relationship with DC-based XM Satellite Radio, on Wednesday had bumped up both the price range and number of shares to be offered.
http://biz.yahoo.com/prnews/050804/nyth088.html
http://www.worldspace.com