Enlarge image
Charcoal is also sold under the Weber brand
Photo: Manfred Segerer / imago images
Weber has to be content with less money than expected when he goes public.
The grill vendor said it allot its shares at $ 14 each, remaining below the original range of $ 15 to $ 17.
At the same time, the company reduced the number of shares sold from 46.88 million to 17.9 million.
This brings the issue volume to $ 250 million.
Weber originally had targeted revenues of up to $ 797 million.
That would have been an overall valuation of the company of around $ 5 billion.
Weber makes gas, charcoal and electric grills.
The long-established company based in Palatine in the US state of Illinois is particularly known for its kettle grill, which was invented around 70 years ago.
Weber did good business in the corona pandemic.
In the second half of the 2020/2021 financial year alone, sales by the US group grew by 62 percent compared to the same period of the previous year.
Weber announced the IPO in mid-July.
About a week before the current debut, the competitor Traeger was also launched on the New York Stock Exchange.
In contrast to Weber, he exceeded expectations.
fdi / Reuters
