Del Frisco's cuts IPO size; prices below range - underwriter
July 26 |
July 26 (Reuters) - Steakhouse operator Del Frisco's Restaurant Group Inc cut the size of its initial public offering to 5.8 million shares and priced it at $13 per share, below its expected price range, according to an underwriter.
The company had told the U.S. Securities and Exchange Commission earlier this month that it planned to sell its shares at $14 to $16 per share.
The chain, which operates Del Frisco's Double Eagle Steak House and Sullivan's Steakhouse, has 32 restaurants across 18 states in the United States.
Shares of the Southlake, Texas-based company are expected to start trading on the Nasdaq on Friday under the symbol "DFRG".
Deutsche Bank Securities and Piper Jaffray are acting as lead underwriters to the offering.
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