SEOUL, South Korea--(BUSINESS WIRE)--Finance executives at Seoul-based investment management company AMJ Hall Global have said that following a pricing above the marketed range, Dun & Bradstreet, one of the oldest data and analytics providers on Wall Street, have generated $1.7 billion in its U.S. initial public offering.

“Established in 1841, Dun & Bradstreet sold 78.3 million shares at $22 each. It managed to upsize the offering after initially marketing 65.75 million shares for $19 to $21 each,” commented Peter Cross, Director of Institutional Trading at AMJ Hall Global.

“At $22, the company would have a market value of about $8.8 billion based on the number of outstanding shares listed in the filing,” added Peter.

Even without the listing of Dun & Bradstreet, June is projected to be the busiest month for U.S. IPOs since Alibaba Group Holding Ltd. priced its $25 billion offering in September 2014. A total of 47 companies have priced their share sale generating a combined $17.6 billion, data collected by AMJ Global Hall shows.

Dun & Bradstreet, headquartered in Short Hills, New Jersey, reported that as of March 31, its database contained detailed information on over 360 million businesses. Its 135,000 clients make up about 90% of the Fortune 500.

Director of Private Clients at AMJ Hall Global, Harry Jacobs, commented “In its IPO prospectus, Dun & Bradstreet said it would use the proceeds to redeem $1.27 billion of preferred stock and pay-out $342 million of outstanding bonds.”

Subsidiaries of Cannae Holdings Inc., Black Knight Inc. and seasoned dealmaker Chinh Chu’s CC Capital Partners have pledged to invest a combined $400 million in a concurrent share placement to the listing of Dun & Bradstreet, according to the filing with the U.S. Securities and Exchange Commission.

After less than two years, Dun & Bradstreet return to the public market. In 2018, the company was acquired for around $5.4 billion in cash by an investor group led by CC Capital, Cannae with funds affiliated with Thomas H. Lee Partners. The deal valued the firm at $6.9 billion, including debt. According to the filing, after the IPO the consortium will hold approximately 66% of voting power.

On Wednesday, the company plans to list its shares on the New York Stock Exchange under the symbol “DNB”. Goldman Sachs, Bank of America, JP Morgan and Barclays were leading underwriters on the Dun & Bradstreet IPO.

About AMJ Hall Global

AMJ Hall Global helps protect the financial future of our clients by providing astute and well-researched investment solutions in mature and emerging markets. Our team of investment professionals offers a diverse range of investment skills covering a wide variety of financial activities that include wealth and fund management and securities trading.

Contacts

Mr. Sam Eun-Soo, Research Director

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