November 13, 2009 at 19:10 PM EST
Retail IPOs Rise In Debuts
Dollar General and Rue21 both surged in their trading debuts Friday after the retailers priced at opposite ends of the spectrum. Dollar General (DG), which owns a chain of over 8,500 discount stores around the U.S., priced at $21, the low end of its expected range. The sale of 34.1 million shares made for total proceeds of $716 million. Some analysts weren't surprised by the low pricing. Morningstar analyst Zoe Tan had called the IPO "high
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