Shares in Dutch reality show producer Endemol, source of "Fear Factor" and "Big Brother," began trading Tuesday on Amsterdam's stock market.
Traders said Endemol shares were trading at the low end of their predicted range, the Times of London reported. By early afternoon, Endemol's share price gave it an implied value of about $1.3 billion.
The initial public offering follows word from company owner Telefonica SA, the Spanish telecommunications giant, that it had sold 22.4 percent of Endemol to institutional investors.
Endemol has its head office in the Netherlands and runs subsidiaries and joint ventures in 22 countries, employing 3,300 people.