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Arnold Schwarzenegger and some Hollywood friends let the Wall Street crowd do the heavy lifting on Friday.
Planet Hollywood International Inc. went to market for the first time in an initial public offering of 10.8 million shares priced at $18 a share. The public lined up to buy just like they do at the 30 celebrity sponsored theme restaurants around the country.
The price jumped 49 percent to close at $26.87 a share.
Some analysts thought the issue a bit pricey, but the company does have annual revenues of $270 million and profits of about $20.7 million.
