US: WhiteWave share slide on NYSE debut
WhiteWave's stock opened at US$19 but closed at $16.75
Shares in Dean Foods' soy and organic arm WhiteWave Foods Co slid on their debut on the New York stock exchange on Friday (26 October).
WhiteWave's stock opened at US$19, up 12% from its IPO price of $17. The shares, however, fell 1.5% to finish at $16.75 at close of trading.
Dean Foods planned to raise up to $320m from the IPO, which was announced in August. It sold shares in up to 20% of WhiteWave, which sells Horizon organic milks and plant-based dairy alternatives, such as Silk Soymilk.
Shares in Dean Foods tumbled 11% to close at $16.74 on Friday following the IPO.
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