Weber, backed by BDT Capital Partners, said it plans to sell nearly 46.9 million shares at between $15 and $17 apiece in an initial public offering that could give the grill maker a market capitalization of around $5bn.
At the $16 midpoint of the expected price range, the Palatine, Ill., company majority-owned by private-equity firm BDT Capital Partners LLC said it expects net proceeds of about $712.5m, or roughly $819.4m if the underwriters exercise an option to buy an additional 7.03 million shares.
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The coronavirus pandemic has been an especially busy time for outdoor dining, with many consumers taking up home improvement projects, including building out decks and patios, which mean more backyard grilling.
Grill companies Traeger and BBQ Guys are also planning to go public.
Source: Wall Street Journal
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