Business Notes Stock Offerings

Spider-Man is a high-climbing superhero, but how will he perform on Wall Street? Later this month, fans of Spidey will have a chance to find out. Marvel Entertainment Group, publisher of Spider-Man, Captain America, Silver Surfer and more than 70 other titles, plans to make its first stock offering. Marvel will offer 3.5 million shares, a stake of about 30%. The shares are expected to sell at $14 to $16. Started in 1939, Marvel is the largest comic- book publisher in North America (total monthly circulation: 8.5 million). Last year the company posted net profits of $5.4 million, up 120% from the previous year, on revenues of $81 million. The offering will hit the market after a fallback from record highs, so Spider-Man may have to demonstrate his gravity-defying superpowers once again.