Let’s Dance! Electronic Music Operator SFX Goes Public

But investors are selling off the deal in today’s trading

   

SFX Entertainment (SFXE), which operates electronic dance music festivals like TomorrowWorld and Electric Zoo, pulled off its IPO today. The company priced the deal at $13, but might have been overly optimistic, as the price is down about 9% in early trading. The lead underwriters included UBS Investment Bank (UBS), Jefferies, and Deutsche Bank (DB).

SFX is the mastermind of Robert Sillerman, whose background in the music business goes back to the 1970s. For example, he started a company that acquired various radio stations and managed to sell it in the la