Dun & Bradstreet Shares Climb in Wall Street Debut

Shares of business-information provider Dun & Bradstreet climb in their first day of trading.
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Dun & Bradstreet Holdings  (DNB)  shares were climbing Wednesday as the business information provider made its debut on Wall Street.

Shares of the Short Hills, N.J., company at last check were 17% higher at $25.73.

Dun & Bradstreet priced 78.3 million shares at $22 each. It was previously seeking to sell 65.75 million shares for $19 to $21 apiece.

The company said in its prospectus that it would use the proceeds to redeem $1.27 billion of preferred stock, as well as repay $342 million of bonds outstanding.

"Our solutions support our clients' mission critical business operations by providing proprietary and curated data and analytics to help drive informed decisions and improved outcomes,"  Dun & Bradstreet said in its prospectus. 

"We are differentiated by the scale, depth, diversity and accuracy of our constantly expanding business database, known as our 'Data Cloud,' that contains comprehensive information on more than 360 million total businesses as of March 31, 2020."

Dun & Bradstreet has 135,000 clients.

The deal comes just 16 months after D&B was taken private by an investor group led by CC Capital, Cannae Holdings, Bilcar, Black Knight and funds affiliated with Thomas H. Lee Partners.

The IPO values Dun & Bradstreet at close to $9 billion, excluding its total debt of more than $9.1 billion.

Cannae, Black Knight and CC Capital agreed to invest a total $400 million in the company as part of the offering.

Goldman Sachs, Bank of America Securities, J.P. Morgan and Barclays are lead book-running managers and representatives of the underwriters for the offering.