Dun & bradstreet has actually listed its stocks for a wednesday flotation over the previously established range in an scaled-up listing that comes back the data and analytics group on stock exchange 2 yrs after a former blackstone government aided to go on it personal.

The business would sell 78.3m stocks at $22 each, in accordance with two different people briefed in the sale. the listing will raise $1.7bn and gives the group a valuation of $9bn.

The number of stocks into the supplying ended up being increased by a fifth on tuesday night and ended up being listed over the previously announced variety of between $19 and $21, reflecting strong investor need. the deal had been over 10 times oversubscribed, according to an individual with familiarity with the listing.

The ipo comes back dun & bradstreet toward stock exchange after it had been taken exclusive in a $6.9bn deal in august 2018 led by chinh chu, the veteran dealmaker whom left blackstone in 2015, and bill foley, an insurance magnate.

The two men will continue to be purchased the group through a number of private placements made simultaneously with the listing. subsidiaries of cc capital, mr chus team, and black knight, mr foleys company, will each buy $100m in stock. a unit of cannae holdings, that also participated in the offer to just take dun & bradstreet personal, will buy $200m in stocks.

The 2018 price noted the next time mr chu and mr foley joined causes purchase a company off the stock market. they certainly were in addition behind a blank-cheque acquisition company that purchased living insurer fidelity & guaranty life for $1.8bn in 2017. fgl had been sold just last year to mr foleys fidelity nationwide financial which, despite its similar title, wasn't connected to fgl ahead of the 2017 offer.

Dun & bradstreet traces its history back again to 1841 and sells services and products emphasizing credit danger, cloud computing and threat administration to 135,000 clients, including 90 per cent associated with fortune 500 companies. the business had revenues of $1.4bn last year, but a loss in $554m, according to a filing using the united states securities regulator. in the first three months of the season, the group has actually generated $395m in revenue with net gain of $74m.

The company will trade in the nyc stock exchange under the ticker symbol dnb. the majority of the cash raised should be familiar with buy back preferred stock and pay down debt.

The initial general public offering could be the third-biggest us set of the year and employs a recently available run of flotations as organizations have latched to the marketplace rally that began in march. two listings in summer had been the years largest royalty pharmas $2.2bn ipo and warner musics $1.9bn listing.

The dun & bradstreet listing ended up being handled by joint bookrunners goldman sachs and bank of the united states.