Boston Marathon Participation Most Since '96 Wrigley Field Celebrates 100 Years Dolan Already Opposing Jackson Decisions NHL Salary Cap Likely Between $69-70M Classified Advertisements MacLean Sorry For French Ref Comments BigTeams Tabs Clay Walker As CEO, Gains Funding Subway Breaks Into EPL With Liverpool Deal Red Sox' Grossman Profiled Glendale Won't Get State Funds For SB
SBD/December 13, 2013/FinancePrint All
Aramark's shares "rose" Thursday after the concessionaire earned $725M in its IPO, according to the AP. The company "priced 36.25 million shares at $20 per share, the low end of its expected range of $20 to $23." Shares rose $2.70, or 13.5%, to close at $22.70. Aramark "sold 28 million shares and plans to use the proceeds to pay down debt" (AP, 12/12). In Philadelphia, Harold Brubaker notes, "Aramark shares rose as much" as 17.1% in their first day of trading. The company grossed $560M from the IPO, and altogether, Aramark and its private equity owners "sold a stake" of about 15% to the public (PHILADELPHIA INQUIRER, 12/13). At presstime, shares of Aramark were trading at $23.75, up 4.6% from the close of business on Thursday (THE DAILY).