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UPDATE 1-Dunkin' Brands stockholders to sell higher stake
March 30, 2012 / 12:05 PM / 5 years ago

UPDATE 1-Dunkin' Brands stockholders to sell higher stake

March 30 (Reuters) - Dunkin’ Brands Group Inc said some stockholders will offer more shares than planned, priced at $29.50 apiece, in a secondary offering worth nearly $780 million.

Investors will now sell 26.4 million Dunkin’ Brands shares, compared with the offering of 22 million shares announced earlier this month.

Underwriters have a 30-day option to buy up to an additional 3.96 million shares from the selling stockholders, Canton, Massachusetts-based Dunkin’ Brands said in a statement.

The selling stockholders will receive all of the net proceeds from this offering and no shares are being sold by the company.

J.P. Morgan Securities LLC, Barclays Capital Inc, Morgan Stanley & Co LLC, and BofA Merrill Lynch are lead underwriters to the offering.

Earlier this month, the parent of Dunkin’ Donuts cafes and Baskin-Robbins ice cream shops reported higher-than-expected quarterly earnings partly on strong U.S. results, but gave a disappointing profit forecast.

Dunkin’ Brands shares closed at $30.06 on Thursday on the Nasdaq.

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