Business
WhiteWave shares slip on first day of trading
Posted: Oct 26, 2012 9:00 AM
Updated: Oct 26, 2012 9:02 AM
NEW YORK (AP) Shares of dairy company WhiteWave Foods are trading near their initial public offering price on their first day of trading on the New York Stock Exchange.
The stock, which was priced at $17, fell back to that level after rising as high as $19.17 in early trading Friday.
WhiteWave Foods Co., which was spun off from Dallas-based dairy company Dean Foods Inc., sells Horizon organic milks, Silk Soymilk, Land O Lakes beverages and other products. Dean Foods is using proceeds from the IPO to pay down debt.
WhiteWave raised $391 million in the offering. The shares are trading under the ticker "WWAV."
