Univision Makes Public Offering: Univision Communications Inc.,...

Univision Makes Public Offering: Univision Communications Inc., the leading Spanish-language broadcaster in the U.S., priced its shares at $23 each to raise $187.9 million in its initial public offering. The Los Angeles-based company sold 8.17 million shares, or a 20% stake. The sale values Univision at $951.7 million. In a sign of strong investor demand, the shares sold for more than the initial range of $19 to $21 a share. Univision reaches more than 92% of all U.S. Latino households and has about a 77% share of the U.S. Spanish-language network television audience. It operates 11 full-power and seven low-power UHF stations. The company will use the proceeds to pay for its reorganization and to pay down debt. Univision will trade on the New York Stock Exchange under the symbol UVN.