Emerald Exposition Events, which owns Outdoor Retailer, Surf Expo, Interbike and many other trade shows in the U.S., closed with a share price of $21.01 on the New York Stock Exchange yesterday, giving it a market capitalization of $1.49 billion. The company and some of its shareholders started offering 15.5 million shares to the public last month at $17.00 per share on Apr. 28, below a previously projected range of $18 to $20, with an option to offer an additional 2.33 million shares within a 30-day period. The stock started trading at $18.70 on the first day. Emerald, which is the largest operator of trade shows in the U.S., will get no proceeds from the IPO.
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