HD Supply IPO prices below range amid market volatility
(Reuters) - Industrial and construction supplies distributor HD Supply Holdings Inc priced its initial public offering at $18 a share on Wednesday, below its expected range, according to a source briefed on the matter.
The Atlanta, Georgia-based company, backed by Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, raised $957.5 million by pricing 53.2 million shares.
HD Supply had originally hoped to price shares at a range of $22 to $25, although underwriters told investors earlier in the day it was offering shares at a range of $18 to $20, according to a separate source familiar with the matter.
(Reporting by Olivia Oran in New York)
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