A local company that owns the world's largest coffee and baked goods chain is going public.
According to The Boston Globe, Canton-based Dunkin’ Brands Group Inc. begins trading on the NASDAQ market today with an initial public offering of $19 a share, which would give it a market cap of $2.4 billion. The article states that the company, which also owns the Baskin-Robbins ice cream chain, had been looking to sell shares of its stock for somewhere between $16 and $18 a share. The three private equity firms that own Dunkin' Brands will each have a controlling interest of 26.1%, according to the Globe.
The trading symbol for Dunkin' Brands is "DNKN."
Dunkin' Donuts, which first opened in 1950 in Quincy, currently has more than 6,500 stores in the United States and approximately 3,000 more shops in 30 countries across the globe. The website for Dunkin' Donuts can be found at http://www.dunkindonuts.com/
For more information on the Dunkin' Brands IPO, please go to the Boston Globe link below.
Dunkin' to begin trading under 'DNKN'
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