HD Supply Holdings shares rise in debut
Shares of HD Supply Holdings rise in debut after IPO raises almost $1B
NEW YORK (AP) -- Shares of HD Supply Holdings are rising in their trading debut on the Nasdaq stock market.
The Atlanta-based industrial distributor sold 53.2 million shares at $18 per share to raise $957.6 million in the IPO.
Its shares rose 58 cents, or 3.1 percent, to $18.58 in midday trading. Its shares traded as high as $19.25 and as low as $17.80 in morning trading.
HD Supply Holdings had previously said it expected to price it shares between $22 and $25 each.
The company granted its underwriters an option to buy up to 8 million more shares. They trade under the symbol "HDS."
HD Supply Holdings Inc. is the parent company of HD Supply Inc. It was formed in 2007 after a group of investors bought Home Depot Inc.'s former wholesale distribution business.
