Millburn’s Dun & Bradstreet mushrooms 14% in US market debut

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Millburn’s Dun & Bradstreet mushrooms 14% in US market debut

Shares’ prices of the New Jersey-based American business analytic firm, Dun & Bradstreet Corp. that over 90 per cent Fortune 500 companies had been using on a regular basis to track down a swathe of critical business data ranging from commercial insights to analytics to business updates, had mushroomed as much as 14 per cent at its US market debut on Wednesday, sailing on the back of a recent high-tide in investors’ appetite for newer stocks.

In point of fact, bolstering view that the US IPO market had been gaining traction over optimisms of a quicker economic recovery, the Millburn, New Jersey-based business analytics firm had upsized its IPO (Initial Public Offering) on Tuesday and had raised over $1.7 billion by pricing the stocks above its target of $19-$21 per share.

Besides, on Wednesday morning, Dun & Bradstreet stocks opened the market at $25 per share, well above its initial offering price tag of $22 per share, that proffered the company a market valuation of $10.01 billion, while on Wednesday’s Wall St.

wrap up, the New Jersey-based business analytics firm had surged 15.23 per cent to $25.35 per share at its US public market debut.

Dun & Bradstreet IPO justifies strong demand for new US stocks

Aside from that, in the latest vindication of a vivid demonstration of robust demands of newer US stocks in the IPO market, Dun & Bradstreet’s IPO had marked up the third-largest IPO this year thus far, an IPO research firm Renaissance Capital wrote in a client note on Wednesday.

On top of that, while the latest public market debut for the New Jersey-based business analytics firm came forth nearly two years after the world's largest manager of alternative assets Blackstone Group Inc.

dealmaker Chinh Chu had taken the company private in a $6.9 billion deal, expressing a through and through optimism over Dun & Bradstreet stocks, a Professor at the University of Michigan Ross School of Business, Eric Gordon said on Wednesday morning, “They (PE investors) so far have turned a loss of more than $200 million in the first quarter of the year to a $40 million profit.

It has a treasure trove of data on businesses and is used by about 90% of Fortune 500 companies, not just gig workers or startup tech companies that might not be in business next year.