July 26 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.