date:Mar 29, 2013
The stock was trading at $22.73 after the company backed by Blackstone Group LP raised $580 million in its initial public offering.
Pinnacle Foods shares priced at $20, at the top of their expected range of $18 to $20. The IPO values the company at around $2.3 billion.
The Pinnacle Foods IPO is just the latest in a string of public offerings from private equity-backed companies this year as financial sponsors try to sell investments made during the buyout boom of 2006 to 2007.
Parsippany, New