Reuters reports the Blackstone Group LP is planning an initial public offering of SeaWorld Parks and Entertainment in the $500 to $600 million range, likely in early 2013.

Blackstones use of cash and debt at SeaWorld has been characterized as "aggressive" as $600 million has been paid out in dividends to Blackstone. Management fees and consultant fees likely have been hefty as well.

For the Reuters story please see:

http://www.reuters.com/article/2012/12/15/us-seaworld-ipo-idUSBRE8BD1CJ20121215

As would be the case right about now had Mr. Kinzel and Apollo Global had their way with FUN.

Two days after appearing on KICentral.com the Orlando Sentinel stumbles upon the SeaWorld plans to go public. A few more details are provided along with the "declined comment" from Blackstone:

http://articles.orlandosentinel.com/2012-12-17/business/os-seaworld-exploring-ipo-20121217_1_seaworld-orlando-seaworld-parks-entertainment-tampa-and-williamsburg

Enjoy!

Leland Wykoff

SeaWorld files $100 million IPO. Six Flags and Cedar Fair on watch.

http://www.streetinsider.com/Trader+Talk/Six+Flags+%28SIX%29,+Cedar+Fair+%28FUN%29+On+Watch+Following+SeaWorld+IPO+Filing/7971146.html

More detailed report from the DealBook at the New York Times:

http://dealbook.nytimes.com/2012/12/27/seaworld-files-to-go-public/

Leland Wykoff

When do people find out how much it will cost per unit?

Some interesting financial details about the parks were released ahead of the IPO...

http://www.orlandosentinel.com/business/tourism/os-cfb-tourism-1231-20121230,0,174681.story

When do people find out how much it will cost per unit?

That's normally not determined until just before the IPO launch (although, analysts usually make pretty accurate--in most cases--estimates ahead of time). Prior to the IPO, company management will go out on a "road show" where they'll do presentations to institutional investors, fund managers, investment banks, etc. The feedback/reaction the company gets during this period will help determine how they price the initial offering.

More:

http://www.fool.com/investing/general/2013/01/02/seaworld-gets-ready-for-its-ipo.aspx

^ that's an interesting analysis...it definitely seems like comparing Disney stock to a potential Sea World offering is comparing apples to oranges...just by nature of their holdings, a public SW company would look a lot more like FUN or SIX than it would DIS or NBC/Universal.

For more thoughts on the coming SeaWorld IPO please see:

http://dealbook.nytimes.com/2013/01/03/can-seaworld-make-a-splash-in-its-i-p-o/

The returns Blackstone has achieved as well as the likely returns to future shareholders is considered.

Hum.