San Francisco, CA - Dolby Laboratories has priced its initial public offering of 27,500,000 shares of its Class A common stock at $18 per share. Of the total shares sold, 10,500,000 shares have been sold by Dolby Laboratories, and 17,000,000 shares have been sold by Ray Dolby, founder and principal stockholder of Dolby Laboratories.
Dolby's common stock started trading on the New York Stock Exchange under the symbol "DLB" on February 17. On that day, Dolby facilitated ringing the opening and closing bells in surround sound in the main trading room. The opening bell rang in a random pattern around the main trading floor, while the closing sound was a an unconventional remix created by Dolby engineers which incorporated the traditional bell sound with added percussion and effects. For the first time ever, the television feed of the opening and closing bells was delivered to news stations with Dolby Pro Logic II audio.