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Dunkin IPO Is Result of 'Unbelievable Buzz': CEO

Dunkin' Brands' IPO pricing at $19 a share—well above the range set by underwriters—was the result of the “unbelievable buzz” around the company, its CEO told CNBC Wednesday "This brand is unbelievable and has an unbelievable buzz now.

Dunkin Donuts
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Dunkin Donuts

The pricing I think is good. You judge an IPO in two ways: One is demand, but we also want to have shareholders who will stay with us for a long time. We have a great story so we feel good about where we are today," Nigel Travis President and CEO, Dunkin' Brands told CNBC.

He said the money raised from the IPO would be used to pay down debt.

Travis described Baskin-Robbins, the ice-cream brand, as the jewel in the company and described it as a truly global brand.

The company's Dunkin Donuts brand has carved out a niche with a loyal following in the U.S., offering less expensive coffee than rival Starbucks.

He added that the company had plans to grow both domestically, particularly east of the Mississippi River, and internationally.

"We could build the next 3,000 stores in the U.S. staying east of the Mississippi. We're very focused on contiguous expansion and we're very disciplined," he said.

The company emphasized it is keen to expand further into emerging markets with accelerated growth plans for China and a plan to launch the Dunkin' Donuts brand in India.

The company's shares will trade on Nasdaq Wednesday under the ticker “DNKN.”