US Foods' IPO stock price set at $23

Business Wire

ROSEMONT - US Foods Holding Corp. the parent company of US Foods, announced the pricing of its initial public offering of 44.4 million shares of common stock at an initial public offering price of $23 per share, for a total offering size of $1,02 billion.

In addition, US Foods has granted the underwriters a 30-day option to purchase from US Foods up to an additional 6,6 million shares of common stock, at the initial public offering price, to cover overallotments, if any, which if exercised in full would result in a total offering size of $1,175,555,553.

The shares of common stock are expected to begin trading on the New York Stock Exchange on Friday under the symbol "USED." The offering is expected to close on June 1, subject to satisfaction of customary closing conditions.

Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering and the representatives of the underwriters. BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities and KKR are also serving as joint book-running managers for the offering and BMO Capital Markets, Guggenheim Securities, ING, Rabo Securities and Natixis are serving as co-managers for the offering.