Dutch Bros spikes 42% on its first day of trading

Reuters2021-09-16

Dutch Bros spikes 42% on its first day of trading.

Private equity firm TSG-backed Dutch Bros Inc priced its initial public offering above its target range on Tuesday, valuing the company at about $3.8 billion.

The coffee chain sold 21.1 million shares at $23 each, above the $18 to $20 per share range set earlier, to raise about $484 million in the IPO.

TSG holds a minority stake in the company, which it bought for an undisclosed sum in 2018.

Dutch Bros, founded in 1992 by brothers Dane and Travis Boersma in Oregon, had opened its first franchise in 2000 and now has 470 drive-thru coffee locations in 11 states.

It reported a 13% rise in franchising and other revenue at $47.1 million for the six months ended June 30, compared with a year earlier when it's same-shop sales dropped due to the COVID-19 pandemic and the West Coast wildfires.

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Comments

chongcs
2021-09-16
chongcs
ok
tkj
2021-09-16
tkj
Only heard of Dutch Lady....
replaygoh
2021-09-16
replaygoh
okok
JeffreyNeo
2021-09-16
JeffreyNeo
1
Gackky
2021-09-16
Gackky
will it be the start of another Starbucks[笑哭]
- Gaga71:
  Great
SkyLim
2021-09-16
SkyLim
Ok
- zzgundam:
  Ok

Leave a comment

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