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Dunkin' Brands(DNKN - Get Report) served up big gains for investors in the company's trading debut on the
Nasdaq Stock Market Wednesday.
The stock, which began trading Wednesday under the symbol "DNKN," opened at $25 and closed at $27.85, a gain of $8.85 or 46.6%. More than 44 million shares changed hands, with the stock showing an intraday high of $29.62.
Dunkin' Brands, which owns Dunkin' Donuts and ice cream chain Baskin-Robbins, priced its initial public offering late Tuesday at $19 a share.
Dunkin' Donuts' Big and Toasty sandwich
The company, which was bought by a private-equity consortium including
Carlyle Group and
Thomas H. Lee Partners back in 2006 for $2.4 billion, is selling 22.25 million shares in its market debut to raise roughly $423 million.
Other coffee- and doughnut-related stocks were trading lower Wednesday.
Krispy Kreme Donuts(KKD - Get Report) dropped 9.3% to $8.23;
Peet's Coffee & Tea(PEET) lost 3.9% to $57.90;
Green Mountain Coffee Roasters(GMCR - Get Report) fell 4.3% to $88.11;
Starbucks(SBUX - Get Report) shares slipped 3% to $38.97;
Tim Hortons(THI) shares slid 3.1% to $46.97; and
McDonald's(MCD - Get Report) was down 1.7% to $87.09.
-- Written by Robert Holmes in Boston.
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