Two Dollar General (DG) IPO Underwriters Exit Position

Dollar General (NYSE: DG) shares are on watch Friday following reports that two notable investors decided to exit a large stake in the company.

KKR & Co. (NYSE: KKR) and Goldman Sachs' (NYSE: GS) private equity unit have both exited positions in the discount retailer, the WSJ said late Thursday. The firms sold 4.2 million Dollar General shares in a block sale at $60.71 apiece.

The move comes four-years following Dollar General's IPO, which priced at $21 per share in 2009.

While the overall stake in small, it underscores the melt-up movement in Dollar General shares since its public debut. Reasoning behind the move was immediately available.

Shares of Dollar General are lower in early trading.

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