Diamond Resorts Climbs in First Day Trading on NYSE

NEW YORK (AP) -- Shares of Diamond Resorts International Inc. surged in their first day of trading on the New York Stock Exchange.

The timeshare company's stock added 97 cents, or 6.9 percent, to $14.97 in Friday morning trading. The shares priced at $14 per share, below the expected range of $16 to $18 per share.

Diamond Resorts raised $217 million from its initial public offering of 15.5 million shares. The Las Vegas-based company is selling 14 million shares, while a selling stockholder is selling 1.5 million shares. Diamond Resorts won't receive any proceeds from shares sold by the selling stockholder.

Shares are trading under the "DRII" ticker symbol.

The offering is expected to close on Wednesday.


More Stories

Don't Miss

  • Community Calendar
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Connect with 8 News NOW
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Deadly Dust: Asbestos
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Community Pride
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Politics Now
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News

Video Center