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WB stock closes higher on first day of trading

Blog by Nick Swinburne | November 10th, 2010

November 9, 2010

Shares in Whistler Blackcomb Holdings traded slightly higher than their opening price of $12 on the first day of trading for the stock on the Toronto Stock Exchange.

The share price reached $12.50 early in the day before falling back to $12.03. It rebounded slightly, to $12.06, by the close of trading on Tuesday (Nov. 9). Trading volume on the first day was 2.35 million shares.

Fortress Investment Group, the New York-based securities firm that owns Whistler Blackcomb, issued an initial public offering (IPO) for shares in the new company last Tuesday (Nov. 2) at a price of $12 per share. The owners, seeking to raise $300 million, issued 25 million common shares.