Dunkin’ Brands IPO boasts 40 percent surge
New York, NY, United States (AHN) – Shares of Dunkin’ Brands Group are up nearly $8 or 44 percent beyond their initial public offering price of $19 per share. By 3 p.m., shares were being traded on the NASDAQ at $27.34.
The company announced an initial public offering of 22.2 million shares and garnered financial headlines.
The deal raised gross proceeds of $427.5 million. The Canton-based company plans to use the money from its IPO to repay debt accumulated under the ownership of private-equity firms Bain Capital LLC, Carlyle Group and Thomas H. Lee Partners LP.
Based on regulatory filing paperwork, the firms paid about $2.43 billion for the company in a 2006 leveraged buyout.
The company, with 6,800 locations, is planning on expanding with the addition of 3,000 more locations, many in the nation’s west.
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