New York — Executives at Dolby Laboratories rang in surround sound at the New York Exchange (NYSE) yesterday. The event, in celebration of the company’s initial public offering on the NYSE, marked the first time both The Opening Bell and The Closing Bell were ringing in surround sound in the main trading room, as well as for the pleasure of television viewers at home.
Dolby chairman Ray Dolby rang the opener and president/CEO Bill Jasper handled the close.
The Opening Bell rang in a “dramatic” random pattern around the trading floor, while The Closing Bell was a special and unconventional remix created by Dolby engineers. It incorporated the traditional bell sound with added percussion and effects, and appeared to jump around the room and envelop the listeners.
Additionally, for the first time, both opening and closing bells were delivered to news stations and then to viewers with Dolby Pro Logic II audio.
Dolby’s initial public offering, 27.5 million shares of Class A common stock is priced at $18 per share. Dolby Laboratories has sold 10.5 million of the shares, and Ray Dolby, founder and principal stockholder of the company, has sold 17 million.