Canadian Satellite Radio Drops On First Day Of Trading

Canadian Satellite Radio Holdings Inc. (CSR), which offers satellite radio service in Canada under the XM Canada brand, said Dec. 12 it completed its Cdn. $55 million ($47.7 million) initial public offering of stock. Shares, traded on the Toronto Stock Exchange under the symbol XSR.SV, were valued at Cdn. $16 ($13.89). The stock closed at Cdn. $14.50 ($12.60) after its first day of trading.