Business analytics firm Dun & Bradstreet launches U.S. IPO
(Reuters) – U.S. business analytics firm Dun & Bradstreet on Tuesday filed for an initial public offering, looking to ride the recent wave of successful new listing after the COVID-19 pandemic crushed the market for new issues.
The Short Hills, New Jersey-based company did not mention the size of the offering in the regulatory filing bit.ly/2AbIk0J, but a Reuters report on Monday said it was looking to raise up to $1 billion, citing sources.
The offering comes less than 18 months after an investor group, led by former Blackstone Group Inc (BX.N) dealmaker Chinh Chu, took the company private for $6.9 billion, including debt.
The IPO will aim to value the company above the buyout price, according to Reuters’ sources.
The company provides businesses with data and analytics services and has more than 5,000 employees in North America, Europe and Asia, according to its website.
For the three months ended March 31, revenue for the company more than doubled to $395.3 million, from a year earlier. Operating loss narrowed to $8.3 million from $203 million.
Dun & Bradstreet intends to list its shares on the New York Stock Exchange under the symbol “DNB”.
Goldman Sachs Group Inc (GS.N) and Bank of America Corp (BAC.N) are the lead underwriters to the IPO.
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