Flotation is sweet music for Dolby

The company behind the Dolby noise reduction system today said it had raised 495 million US dollars (£261.9m) from a stock market flotation.

The company behind the Dolby noise reduction system today said it had raised $495m (€379.9m) from a stock market flotation.

US-based Dolby Laboratories, which started life in London, said it had sold 27,500,000 shares at $18 (€13.80) each.