Tomorrow is the much-awaited Nureca IPO, announced first last April. Nureca is based in Atlanta, Georgia and hopes to raise $100 million in tomorrow’s IPO. They will offer 7 million shares priced between $13 and $15 per share. Say shares go for $14 and their company will be worth $553 million.
Nureca makes healthcare and wellness products. It was founded in 1997 and had $134 million in sales the year preceding May 2021.
Nureca IPO Price band
The price band of the IPO is Rs 396 to 400 per share. If you plan to follow the Nureca IPO, look for their symbol on the NYSE: TEA. Lead underwriters are Bank of America, Merrill Lynch, and Goldman, Sachs & Co.
Nureca offers high end tea and tea products such as cast iron teapots, glass teapots, tea gifts, and all sorts of tea from herbal to green to exotic blends for making iced tea. Their mall stores offer shoppers a unique experience, with tea samples and knowledgeable staff very willing to explain the various methods of brewing tea.
They call them “teaologists” and are ready to help customers find their way through the maze of 110 types of teas sold at Teavana stores.
Nureca’s stores are combination Tea Bar and Tea Emporium and staff stresses the health benefits of tea. Nureca gives 1% of annual profits to charity, which is called CARE.
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