Dolby stock begins trading on NYSE

Dolby Laboratories has announced that 27,500,000 shares of its Class A common stock today began trading on the New York Stock Exchange, under the symbol 'DLB'.
Dolby priced this initial public offering at $18.00 per share. 10,500,000 shares are being sold by Dolby Laboratories and 17,000,000 shares are being sold by Ray Dolby, founder and principal stockholder of Dolby Laboratories.
Dolby Laboratories has an option to purchase up to an additional 4,125,000 shares at the initial public offering price within 30 days to cover over-allotments, if any.
As of 11.15am EST Dolby's shares were trading at $24.60, an increase of 36.67% though an earlier intra-day trading high saw the shares hit $25.00.
(GB)