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

  • Lottery ticket

    A thief who broke into the car of a Seattle couple left behind a million-dollar lottery ticket, NBC News reports.

  • The Lamborghini SpA Urus SUV.

    There's no shortage of luxury vehicle choices, but increasingly the wealthy are opting for high-end SUVs instead of traditional models.

  • Mike Trout #27 of the Los Angeles Angels takes a picture with fans before a game with Boston Red Sox at Fenway Park on May 23, 2015 in Boston, Massachusetts.

    MLB is using digital media initiatives like Snapchat and Web video to connect with younger viewers. Is it enough?

U.S. Video