The outdoor advertising unit of CBS Corp said today that its initial public offering of 20 million shares will be priced at $28 per. With about 17% of the outstanding shares being offered, that values the company at about $3.36 billion. Trading in CBS Outdoor Americas Inc is expected tomorrow on the NYSE under the symbol “CBSO”, with the $560 million IPO ending on or about April 2. CBS Corp plans to divest its remaining shares through a tax-free split-off later this year and eventually convert the unit into a real estate investment trust.
CBS Outdoor Announces IPO Price; Trading Expected To Begin Tomorrow
Trending Now on Deadline
Ryan Murphy & His 'Glee' Co-Creators Get Fox Series Order For Comedy-Horror Anthology 'Scream Queens'
Alamo Drafthouse's Tim League: Make A Place For Christopher Nolan, Quentin Tarantino, And Film Stock In Digital Future
More From Team
- Lucas Hedges & Penn Badgley Join 'The Slap' Miniseries On NBC; 'Full Circle' Sets Cast
- 'Gold Rush' 5th Season Debut Hits Ratings Motherlode For Discovery
- OSCARS: Eight Documentary Shorts On 2014 Shortlist
- Roger Howarth Joins 'The Flash'; Ryan Hurst In 'Bates Motel'
- Disney Animation Unveils 'Moana' From 'Little Mermaid' Filmmakers For November 2016