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Shares of HD Supply Holdings rise in debut after IPO raises almost $1B

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(Globalpost/GlobalPost)

NEW YORK, N.Y. - Shares of HD Supply Holdings are rising in their trading debut on the Nasdaq stock market.

The Atlanta-based industrial distributor sold 53.2 million shares at $18 per share to raise $957.6 million in the IPO.

Its shares rose 58 cents, or 3.1 per cent, to $18.58 in midday trading. Its shares traded as high as $19.25 and as low as $17.80 in morning trading.

HD Supply Holdings had previously said it expected to price it shares between $22 and $25 each.

The company granted its underwriters an option to buy up to 8 million more shares. They trade under the symbol "HDS."

HD Supply Holdings Inc. is the parent company of HD Supply Inc. It was formed in 2007 after a group of investors bought Home Depot Inc.'s former wholesale distribution business.

http://www.globalpost.com/dispatch/news/the-canadian-press/130627/shares-hd-supply-holdings-rise-debut-after-ipo-raises-almost