KKR Planning a Dollar General IPO
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According to the WSJ, KKR is planning an IPO for Dollar General. KKR will also be one of the lead underwriters on the deal, assisting in selling off shares to institutions and to the general public via a recent alliance with mutual-fund giant Fidelity Investments.
This would mark the first time KKR underwrote one of its own IPOs. In the next week, Dollar General's board will meet to finalize the underwriter selection.
Dollar General has become one of KKR's best assets amid the down economy. For the quarter ended May 1, its profit grew to $83 million from $5.9 million a year earlier.
If KKR is successfully able to launch the Dollar General IPO, it could result in a 33% return for the private-equity shop.
This would mark the first time KKR underwrote one of its own IPOs. In the next week, Dollar General's board will meet to finalize the underwriter selection.
Dollar General has become one of KKR's best assets amid the down economy. For the quarter ended May 1, its profit grew to $83 million from $5.9 million a year earlier.
If KKR is successfully able to launch the Dollar General IPO, it could result in a 33% return for the private-equity shop.
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