- WHITE PAPERS
ANN ARBOR, Mich. — After 44 years as a privately held company, Domino's Pizza could throw its public coming out party on Wall Street as early as today.
According to a filing with the Securities and Exchange Commission, the world's second-largest pizza chain will offer 24.1 million shares of its stock at an estimated price of $15 to $17. The sale could bring in as much as $400 million to the chain and its investors. The stock will trade on the New York Stock Exchange under the ticker symbol DPZ.
The filing estimates the company will net about $140 million from the sale, while its shareholders will claim around $260 million. Published reports — some of which set the IPO for Tuesday, July 13 — say that every share in the offering already is spoken for by institutional investors.
Domino's said it will use its portion to pay down some of its enormous debt. According to the SEC filing, it's carrying some $934 million in long-term obligations.
Boston-based Bain Capital plans to reduce its 65 percent share of Domino's to 44 percent and yield as much as $131 million in the sale. The company spent about $1 billion to acquire the chain from founder Tom Monaghan in 1998.
Domino's has about 7,450 company-owned and franchise units worldwide. In 2003, the company reported a profit of $39 million on revenue of $1.3 billion and sales of $4.2 billion.
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* Private to Public
* ANALYSIS: Good numbers for Domino's Pizza, but celebrations aren't yet in order