HD Supply Picks Banks to Help Lead IPO (HD)
One-time Home Depot (HD) division, HD Supply, has picked four banks to help take the company public, said people familiar with the situation on Friday.
HD Supply is one of the largest distributors of construction, industrial and maintenance supplies in North America. Six years ago HD Supply went private; private equity firms Bain Capital, Carlyle Group, and Clayton, Dublier & Rice lead a buyout of HD Supply from Home Depot.
Bank of America, Barclays, JPMorgan Chase, and Credit Suisse are among the four banks chosen to lead HD Supply’s initial public offering. The IPO would be an attempt to capitalize on the rebound of the US housing sector.
Home Depot has maintained a 12.5% stake in HD Supply as a part of the deal to take it private six years ago.
Home Depot shares were down 55 cents, or -0.80%, during pre-market trading on Monday. The stock is up +40.77% over the past twelve months.
The Bottom Line
Shares of Home Depot (HD) have a dividend yield of 2.26% based on Friday’s closing price of $69.05 and the company’s annualized dividend payout of $1.56.
The Home Depot, Inc. (HD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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