UPDATE 1-Shares of debt-heavy Intrawest Resorts fall in debut
(Adds details, analysts' comments, updates share movement)
* Shares open at $11.11, below IPO price $12
* Shares hit low of $10.80
By Neha Dimri
Jan 31 (Reuters) - Shares of Intrawest Resorts Holdings Inc fell as much as 10 percent in their debut on Friday, as the mountain resort operator's heavy debt deterred investors in a weakening U.S. market.
The company's shares opened below its initial price of $12.00 per share and fell to a low of $10.80 on the New York Stock Exchange. The expected price range was $15-$17.
Four out of six companies, including home builder New Home Co LLC, made strong market debuts in a weak U.S. market on Friday.
U.S. stocks dropped more than 1 percent on Friday and were set for their first monthly decline since August, hurt by weaker-than-expected inflation data in the euro zone and ongoing concerns about turbulence in emerging markets.
The recent volatility in the markets have not affected the ability of firms to go public in general, said Josef Schuster, founder of IPOX Schuster, a Chicago-based IPO research and investment house. Continued...