Dec 11 Food services provider Aramark Holdings
Corp raised $725 million from its initial public offering after
its shares were priced at the low end of its planned $20 to $23
price range, an underwriter told Reuters.
Aramark, which sold 28 million of the 36.3 million shares
in the offering, will have an equity value of about $4.60
billion at the IPO price of $20. As of Sept. 27, the company had
$5.82 billion in total debt.
The company was taken private in 2006 for $8.3 billion by
Chairman Joseph Neubauer and private equity investors including
GS Capital Partners, JP Morgan Partners and Warburg Pincus.
The Philadelphia-based company provides food, facilities and
uniforms to the education, healthcare, sports and leisure
industries and operates brands such as WearGuard and Crest.
Private equity firms have been trying to sell or list assets
to take advantage of a surging IPO market as a market rally and
low interest rates entice investors into stocks.
Earlier on Wednesday, hotel operator Hilton Worldwide Inc,
which is backed by Blackstone Group LP, raised $2.34
billion after pricing its IPO at $20 per share.
Shares of Aramark, which reported revenue of $13.95 billion
and net income of about $70 million for fiscal 2013, will begin
trading on the New York Stock Exchange on Thursday under the