Pinnacle Foods Shares Rise on Market Debut

Before you go, we thought you'd like these...
Before you go close icon

Pinnacle Foods 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 subsidiary Merrill Lynch, Credit Suisse, Morgan Stanley, and UBS' investment bank unit were the joint book-running managers for the issue.

The article Pinnacle Foods Shares Rise on Market Debut originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
This Photographer Brilliantly Documented Crime on the Mean Streets of New York City This Photographer Brilliantly Documented Crime on the Mean Streets of New York City
Manatees Are Being Found With Cuts All Over Their Bodies - For This Horrifying Reason Manatees Are Being Found With Cuts All Over Their Bodies - For This Horrifying Reason