It’s IPO Day at the NYSE.
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US Foods Holding became the second largest IPO of the year, selling shares at the upper end of the expected range. The food-distribution company sold shares at $23 apiece, raising $1.02 billion. US Foods is owned by private-equity firms Clayton Dubilier & Rice and KKR & Co.
US Foods was expected to sell shares between $21 and $24.
Trading in shares opened at $24.25. The company trades on the NYSE under the symbol USFD.
Cotiviti is a payment solutions company in the healthcare sector. It priced 12.5 million shares at $19 each, exactly where shares were when trading opened. The company had set an expected range of $17 - $19. Cotiviti trades under the ticker COTV.
GMS is a distributor of interior construction products. The company sold 7 million shares at $21 each. That’s at the low end of the $21-$23 offering range. Shares began trading at $22.50
Shares trade under the symbol GMS.