Shares in US discounter Dollar General are set to start trading in New York later today (13 November) after the company - controlled by private equity firm KKR - kicked off its IPO yesterday.

The company priced the IPO of 34.1m shares at US$21 a share - meaning the retailer will receive net proceeds of around $445.2m. The stock will trade on the New York Stock Exchange under the symbol "DG".

KKR, which has put up 11.4m shares in the business, will still own 89.5% of the retailer.

Dollar General runs over 8,700 neighborhood stores located in 35 states and claims to be the largest discount retailer in the US by number of outlets.