NEW YORK, Oct 30 (Reuters) - Kohlberg Kravis Roberts & Co's discount retailer Dollar General Corp set the terms of its initial public offering on Friday, in a sign that the $750 million offering could price by mid-November.
In an updated prospectus filed on Friday with U.S. Securities and Exchange Commission, Dollar General said it planned to sell 34.1 million shares for between $21 and $23 and list them on the New York Stock Exchange under the symbol 'DG.'
While no date for the pricing was provided in the filing, IPOs are typically launched within two or three weeks of terms being set.
Dollar General, which has 8,577 stores in the United States, is selling about 66.5 percent of the shares in the offering, with the remainder being sold by its stockholders.
Dollar General said in the filing it expected net proceeds of $467.8 million, which it will use to pay down debt.
The IPO's underwriters, led by Citi, Goldman Sachs & Co and KKR, have the option to buy up to an additional $5.11 million shares.
For the half year ended July 31, Dollar General had net sales of $5.7 billion, up 13.3 percent over the year earlier period, and made a profit of $176.6 million.
(Reporting by Phil Wahba, additional reporting by Megan Davies) Keywords: DOLLARGENERAL/IPO (phil.wahba@thomsonreuters.com; +1 646 223 6128; Reuters Messaging: phil.wahba.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
In an updated prospectus filed on Friday with U.S. Securities and Exchange Commission, Dollar General said it planned to sell 34.1 million shares for between $21 and $23 and list them on the New York Stock Exchange under the symbol 'DG.'
While no date for the pricing was provided in the filing, IPOs are typically launched within two or three weeks of terms being set.
Dollar General, which has 8,577 stores in the United States, is selling about 66.5 percent of the shares in the offering, with the remainder being sold by its stockholders.
Dollar General said in the filing it expected net proceeds of $467.8 million, which it will use to pay down debt.
The IPO's underwriters, led by Citi, Goldman Sachs & Co and KKR, have the option to buy up to an additional $5.11 million shares.
For the half year ended July 31, Dollar General had net sales of $5.7 billion, up 13.3 percent over the year earlier period, and made a profit of $176.6 million.
(Reporting by Phil Wahba, additional reporting by Megan Davies) Keywords: DOLLARGENERAL/IPO (phil.wahba@thomsonreuters.com; +1 646 223 6128; Reuters Messaging: phil.wahba.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.