Dun & Bradstreet launches IPO
The company priced 78.3m shares of common stock at an IPO price of $22 per share. Previously, it planned to float 65.7m shares at a price of between $19 and $21 per share.
Shares began trading on the New York Stock Exchange yesterday ( 1st July) and the IPO is expected to close on 6th July, subject to closing conditions.
The underwriters have access to up to an additional 11.7m shares at the IPO price.
Dun & Bradstreet said it intends to use the proceeds from the offering and the concurrent private placement to redeem its preferred stock, repay a portion of its debt and for working capital and other general corporate purposes.
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