Reuters: Global Markets: Bloomin' Brands shares rise 14 percent in debut

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bloomin' Brands shares rise 14 percent in debut Aug 8th 2012, 16:06 Wed Aug 8, 2012 12:06pm EDT (Reuters) - Shares of Bloomin' Brands Inc (BLMN.O) rose as much as 14 percent in debut, a day after the Outback Steakhouse operator scaled down its initial public offering size and priced it below its expected price range. The IPO of 16 million shares was priced at $11 per share, compared with earlier plans to sell 21.4 million shares at between $13 and $15 per share. Bloomin' Brands, which is backed by U.S. private equity firm Bain Capital, owns and operates 1,247 restaurants and has 195 restaurants operating under franchise or joint venture arrangements across United States and 21 other countries. The company -- which also runs Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse and Wine Bar -- sold 13 million shares in the offering, while the selling stockholders sold the remaining shares. BofA Merrill Lynch, Morgan Stanley, JPMorgan and Deutsche Bank Securities were among the underwriters to the offering. Shares of the Tampa, Florida-based company were up 11 percent at $12.21 at noon on the New York Stock Exchange. (Reporting by Ashutosh Pandey in Bangalore; Editing by Anil D'Silva) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions