Dunkin’ Brands Group is planning to raise around $400 million in an initial public offering (IPO), The Wall Street Journal reports. The U.S. doughnut chain, which will sell a total of 22.25 million shares, seeks to list the shares on NASDAQ.
The company intends to use the proceeds from the offering to repay debt, for working capital and for general corporate purposes. JP Morgan Chase, Barclays Capital, Morgan Stanley, Bank of America Merrill Lynch and Goldman Sachs are acting as the joint book-running managers on the sale.
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