Enter multiple symbols separated by commas

Tumi IPO Prices at $18 a Share, Above Expected Range

Tumi priced its initial public offering at $18 a share, a dollar above the range previously expected, according to a person familiar with the matter.

Comstock | Getty Images

The South Plainfield, N.J.-based luggage company filed to go public in December 2011.

Goldman Sachs, Credit Suisse , and JP Morgan were the lead bookrunners on the deal. Some 86 percent of the company’s revenue comes from its signature suitcase lines.

The 18.78 million shares offered is expected to raise more than $338 million in proceeds for the company, now valued by the market over $1.2 billion, according to the person.

The company will start trading Thursday on the New York Stock Exchange under the ticker “TUMI.”

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Treasure hunter mel fisher and his team, circa 1985, off the Florida Keys, at discovery of a Spanish galleon sunk in 1622

    Shipwreck treasures hit the auction block

  • The end zone

    Sports are big business in this country. ESPN's Jemele Hill and Forbes Executive Editor Mike Ozanian discuss "Deflategate," NFL Commissioner Roger Goodell's battles as he deals with the NFL's future, and the fight for sports eyeballs and ratings.

  • Corona Beer

    Brewing companies are considering increasing prices on a wide range of beers.

U.S. Video