D&B Seeks to Raise up to $1.38B in IPO

By: Matthew Heller.

The company is “looking to ride the recent wave of successful new listings after the COVID-19 pandemic crushed the market for new issues.”

Dun & Bradstreet is expecting to raise up to $1.38 billion in an initial public offering that would value the business data and analytics firm at as much as $8.4 billion.

D&B said Wednesday in a regulatory filing that it will offer 65.75 million shares at a price range of between $19 and $21 per share. The higher end of the target range gives the company a valuation of $8.41 billion.

The net proceeds from the IPO will be used to redeem all or part of the $1 billion in preferred stock that D&B issued when an investor group took it private in a $6.9 billion deal in February 2019. Following the completion of the IPO, the group will own about two-thirds of D&B.

According to Reuters, the company is “looking to ride the recent wave of successful new listings after the COVID-19 pandemic crushed the market for new issues.” The Renaissance IPO ETF has run up 32.8% year to date while the S&P 500 has lost 4.7%.

D&B claims to have about 135,000 customers worldwide and that its database contains comprehensive information on more than 360 million businesses.

Source: CFO (2020)

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