Worldspace make its entrance on the NASDAQ: UrbanHustler.com:: Motivate, Inspire, Educate, Featuring Black Executives, Entrepreneurs, Celebrity, Business, Finance, Lifestyle and Technology News.

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Worldspace make its entrance on the NASDAQ

Shares of satellite radio broadcaster WorldSpace Inc. the company which is majority owned and controlled by Noah A. Samara rose from the initial public offering price Thursday, the stock's first day of trading.

The stock ended the day at $23.36, up 11 percent from its offering price of $21 on the NASDAQ.

The IPO price was raised twice from its original estimate of $16 to $18 a share to $21. Investors were drawn to WorldSpace because it is seen as having enormous growth potential. The company has never been profitable in its 15 years of operation and has collective losses of $2.1 billion.

WorldSpace is the only licensed satellite digital radio service outside North America, South Korea and Japan, with a coverage area that encompasses the most densely populated parts of Asia, including India and China, all of Africa and the Middle East, and most of Western Europe. It currently has 63 000 paying subscribers in Africa, the Middle East and India, but it needs several million to become successful.

Mr. Samara owns 91% of WorldSpace. The stock will be listed on the NASDAQ under the symbol "WRSP."

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