Dollar General, the largest discount retailer in the US with a total of 8,577 stores, announced terms for its IPO last Friday. The Goodlettsville, TN-based company plans to raise $750 million by offering 34.1 million shares at a price range of $21.00 to $23.00. At the mid-point of the proposed range, Dollar General will command a market value of $7.5 billion. Dollar General, which was founded in 1939 and booked $11.1 million in sales over the last 12 months, plans to list on the NYSE under the symbol DG. The company plans to use its expected net proceeds of approximately $467.8 million to pay off debt. Citi, Goldman Sachs, and KKR are the lead underwriters on the deal, which is expected to price next Thursday, Nov. 12.
