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ServiceMaster shares make lackluster debut

Industry News

Shares of the company only rose about 3.64 percent.

| June 30, 2014

Shares of ServiceMaster Global Holdings Inc rose about 3.64 percent in their debut, valuing the owner of Terminix pest control and American Home Shield brands at about $2.25 billion.

The company's IPO raised about $610.3 million after its offering was priced at $17, slightly below its expected price range of $18-$21 per share.

ServiceMaster, controlled by private equity firm Clayton, Dubilier & Rice, sold 35.9 million shares in the offering.

Shares opened at $17.45 and touched a high of $17.62.

ServiceMaster's other brands include ServiceMaster Clean, Merry Maids cleaning service and Furniture Medic among others.

J.P. Morgan, Credit Suisse, Goldman Sachs & Co and Morgan Stanley are among the underwriters for the offering. (Source)

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