You will be redirected back to your article in seconds

Dolby ka-ching in IPO

Makes company the best performing IPO so far this year

NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million.

Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a cool $1.5 billion.

The shares were priced at $18, jumped to $23 at the open, then ended the day at $24.30 — up 35% in an otherwise down market.

Perf makes Dolby the best-performing IPO so far this year.

About 21 million shares changed hands, making it the fourth-most-traded stock on the New York Stock Exchange on Thursday.

Dolby was founded 39 years ago by the Cambridge-trained scientist, initially developing pioneering noise-reduction systems for the music industry to eliminate the background hiss on recordings.

More Scene

  • 'Atlanta' TV show premiere

    'Atlanta Robbin' Season' Will 'Show What Makes the City Tick,' Producer Says

    NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million. Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a […]

  • Mr Chow 50th Anniversary celebration

    Mr. Chow 50th Anniversary Party Draws Stevie Wonder, Heidi Klum & More Stars

    NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million. Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a […]

  • Paley Center for Media presents They

    African-American Showrunners Talk Strides in TV Representation

    NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million. Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a […]

  • 'Annihilation' film premiere

    'Annihilation' Star Jennifer Jason Leigh Responds to Whitewashing Accusations

    NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million. Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a […]

  • Viola Davis Women in the World

    Viola Davis on #MeToo: 'If You're Dedicated to Change, Let It Cost You Something'

    NEW YORK — Dolby Laboratories, whose high-end digital sound systems are fixtures in theaters and home entertainment, saw its stock surge 35% on its first day of trading in a hotly anticipated IPO that netted the storied San Francisco company about $530 million. Septuagenarian founder and physics doctorate Ray Dolby’s 70% is now worth a […]

More From Our Brands

Access exclusive content