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Whistler Blackcomb to go Public

Whistler Blackcomb to go Public

[ Tue, 2010-10-19 13:49 ]
Whistler gondola
Want to own a share of the biggest ski area in North America? Now you can.

Starting as early as next month Whistler Blackcomb will be a publicly traded company on the Vancouver Stock Exchange, which means that you could own a share.

In the initial public offering, the newly formed Whistler Blackcomb Holdings Inc is predicted to raise $300 million, part of which will go towards paying off Intrawest. Shares are said to start at between $14 and $15.

According to a Reuters report, once the company goes public it will be jointly owned by public shareholders and Intrawest. Ten Canadian investment banks are backing the sale.

Earlier this summer, there were reports of Intrawest shopping Whistler to a Russian investor. The Vancouver Sun reported that Whistler has been in debt since Fortress, Intrawest’s parent company, acquired it in 2006. “Visitor aversion” during the Olympics cost the resort a reported $6.2 million Canadian, but, they expect skier visits to come back, and even increase after the international exposure the games created.