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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.

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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.”

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