Grill manufacturer Weber will be listed on the US Stock Exchange, and in this regard will print shares worth up to $800 million. The company is investing in a valuation of over NOK 70 billion.
Weber grills for sale in a store in Palatine, Illinois, USA.
Scott Olson/Getty Images North America
Delaware-based Weber Inc. has been supplying grills for 70 years and states that it accounts for a quarter of the global grill market, and 23 percent of the market in the United States, according to figures from Frost & Sullivan.
I Message To the US Securities and Exchange Commission, Weber wrote that the company expects to raise about 47 million shares to between $15 and $17 each in connection with the upcoming US IPO. In this case, the company will receive up to $ 797 million.
The company’s goal is According to Reuters, At a valuation of $8 billion (70.9 billion kroner).
Since 2010, Weber Inc has been controlled by the US fund BDT Capital Partners, which is managed by bank financier Warren Buffett Byron Trott, along with the Stephen family and company management.
Those players will still hold about 74 percent of the company’s voting rights after the listing, according to Reuters.
Many barbecue companies on the stock exchange
Grill manufacturer Traeger Inc will also be listed on the stock exchange, and will be listed on the New York Stock Exchange on Thursday.
George Stephen Senior invented the first Weber grill about 70 years ago. Today, Weber supplies, among other things, gas, electric and charcoal grills, as well as smoke ovens.
According to MetrixLab, there are about 70 million grills in the United States, about 30 million of which will be produced by Weber.
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