Subscribe for the latest consumer trends, trade news, nutrition science and regulatory updates in the supplement industry!
Join 37,000+ members. Yes, it's completely free.
Herbalife Completes IPO
January 31, 2005
1 Min Read
Herbalife Completes IPO
LOS ANGELES--Herbalife Ltd. (NYSE:HLF) completed its initial publicoffering (IPO) in mid-December 2004, consisting of 14.5 million shares,including 1 million shares from certain HLF shareholders. Net proceeds from theIPO totaled about $172.6 million, according to the company. Underwriters for theIPO were led by Morgan Stanley & Co., Merrill Lynch and Price, Fenner &Smith Inc.
HLF also announced its indirect subsidiary, Herbalife International, engageda $225 million credit facility, which includes a $220 million loan and $25million in revolving credit. The company used about $66 million from the IPOproceeds to absolve its previous credit facility.
You May Also Like
