Grill maker Weber Inc. sold fewer shares at a lower price than expected in its initial public offering, people familiar with the matter said, the latest sign the new-issue market may be cooling after a torrid run this summer.


sold 18 million shares at $14 apiece, the people said, ahead of its trading debut Thursday. The company and its selling shareholders had been planning to sell roughly 47 million shares at a price between $15 and $17. Instead, only the company sold shares in the offering, which pegs Weber’s fully diluted valuation at roughly $5 billion.

Read: Grill companies Weber and Traeger are going public during BBQ season. Data shows one has the financial edge

The disappointing launch of the high-profile listing follows the postponement of several other IPOs. Last week, five deals were withdrawn or canceled, the most since 2016, according to Dealogic.

The performance of newly listed shares also has been lackluster. So far this year, traditional U.S.-listed IPOs—not including special-purpose acquisition companies or direct listings—were up roughly 9% on average through Tuesday’s close, according to Dealogic, compared with a 15% gain for the tech-heavy Nasdaq Composite Index
Earlier this year, IPOs were outperforming Nasdaq.

An expanded version of this report appears on

Also popular on

Want to build an online sports-betting empire? Start with a gas station casino.

Fliers are fed up with airlines. It’s time for a new bill of rights.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News