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Snowshoe Mountain parent Intrawest Resorts makes NYSE debut

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NEW YORK (AP) -

 

Intrawest Resorts' stock is falling in its first day of trading on the New York Stock Exchange.

Shares of the mountain resort and adventure company declined $1.16, or 9.8 percent, to $10.84 in morning trading Friday, Jan. 31.

The IPO of about 15.6 million shares priced at $12 per share, below the projected range of $15 to $17 per share.

Intrawest Resorts Holdings Inc. raised approximately $187.2 million from the offering.

The Denver company is selling about 3.1 million shares. An entity controlled by certain private equity funds managed by a Fortress Investment Group LLC affiliate is selling approximately 12.5 million shares.

The stock is trading under the "SNOW" ticker symbol.

The offering is targeted to close on Wednesday.

Intrawest's resorts include Steamboat Ski and Resort and Winter Park Resort in Colorado, Mont Tremblant in Quebec, Blue Mountain in Ontario, Stratton Mountain in Vermont and Snowshoe Mountain in West Virginia.