Weak IPO for Intrawest Resorts; fist trades awaited on Malibu Boats

Intrawest Resorts (SNOW) is off about 10% in early trades after pricing its IPO at just $12 per share, well below the expected range of $15-$17.

The company owns a piece of seven mountain resorts and an adventure helicopter skiing business. Also on the balance sheet are 1,150 acres available for real estate development.

Yet to print its initial trades, Malibu Boats (MBUU) is indicated to open at around $15 per share after pricing its IPO at the midpoint of the expected $13-$15 range.

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