Pinnacle Foods Shares Rise on Market Debut

Pinnacle Foods (NYSE: PF  ) has had a successful first day of trading on the stock exchange. The company's shares were up by 11% over their issue price in after-hours trading, changing hands for $22.20 after hitting the market at $20.

Pinnacle, which produces, markets, and distributes a line of frozen food offerings, said it will net roughly $545.2 million from its listing. With those funds, it will retire chunks of its debt.

Barclays, Bank of America (NYSE: BAC  ) subsidiary Merrill Lynch, Credit Suisse (NYSE: CS  ) , Morgan Stanley (NYSE: MS  ) , and UBS' investment bank unit were the joint book-running managers for the issue.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2337718, ~/Articles/ArticleHandler.aspx, 10/24/2014 7:35:44 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement