Dunkin’ Brands Group Inc., the private equity owned parent of brands Dunkin’ Donuts and Baskin Robbins, is planning to sell about 22.3 million shares in its initial public offering, at an expected range of $16-$18 per share. The IPO values the company at as much as $2.3 billion, Reuters reported. Dunkin’ was taken private in 2005 by private equity firms Bain Capital, Carlyle Group and Thomas H. Lee Partners in a $2.4 billion deal.
(Reuters) – Private equity-backed Dunkin’ Brands Group Inc, known for its Dunkin’ Donuts and Baskin Robbins ice cream, expects a price range of $16-$18 per share for its initial public offering, valuing the company at as much as $2.3 billion.
The company, which plans to list on Nasdaq under the symbol “DNKN,” said it was offering about 22.3 million shares in its initial public offering.
Dunkin’ Brands was taken private in 2005 by a consortium including Bain Capital, Carlyle Group and Thomas H. Lee Partners in a $2.4 billion deal.
Bain Capital, Carlyle and THL would collectively own about three-fourths of the company after the offering. None of them are selling shares in the IPO.
In a regulatory filing on Monday, Dunkin’ Brands said it expects to receive net proceeds of about $348.4 million from the offering.
Dunkin’ Brands plans to use the proceeds to repay debt and for working capital.
In May, the company filed for an IPO of up to $400 million. (Reporting by Brenton Cordeiro; Editing by Don Sebastian)