Dunkin’ Donuts’ IPO priced at $19 a share
Wednesday, July 27, 2011
CANTON, Mass. (AP) — The parent company of Dunkin’ Donuts and ice cream chain Baskin-Robbins is pricing its initial public offering at $19 a share, above the forecast price range.
Dunkin’ Brands Group Inc. says it is offering roughly 22.3 million shares at $19 each. The stock will trade starting Wednesday on the Nasdaq market under the ticker symbol DNKN.
The company had earlier projected the IPO price to range from $16 to $18 a share.
At $19 a share, the stock sale will raise about $423 million before expenses. Underwriters also have an option to buy another 3.3 million shares.
Dunkin’ Brands, which is based in Canton, plans to use the IPO funds to pay down debt, but could also have money left over for expansion plans.
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