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 ( 1^st July) and the IPO is expected to close on 6^th 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.