The formal owner of National Beef Packing Co., one of the largest beef businesses in the US, has announced its initial public offering in New York.
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National Beef Inc., which has been set up to become the “managing member” of National Beef Packing Co., announced plans in October to list its shares on the New York Stock Exchange.
The estimated price range for the initial public offering is $15.00 to $17.00 per share, the company said today (7 December). National Beef Inc. has now been approved to trade its Class A common stock under the ticker symbol “NBP”.
The underwriters will be granted a 30-day option to purchase from National Beef up to an additional 2,587,500 shares of Class A common stock at the IPO price, less the underwriting discount, to cover over-allotments, if any.
Merrill Lynch and Credit Suisse Securities will act as joint book-running managers for this offering. Barclays Capital will act as senior co-manager, and BMO Capital Markets and Stephens Inc. will act as co-managers.
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By GlobalData
