Womenswear retail firm Groupe Dynamite closes oversubscribed IPO
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 26/11/2024 (318 days ago), so information in it may no longer be current.
Groupe Dynamite Inc. says it has closed its initial public offering.
The Montreal-based firm behind the Garage and Dynamite retailers says the offering wound up oversubscribed.
As part of the offering, shareholders controlled by CEO Andrew Lutfy sold more than 14.3 million subordinate voting shares for $21 each, giving them aggregate gross proceeds of about $300 million.
The company’s shares closed at $20.32 on the Toronto Stock Exchange on Monday.
A syndicate of underwriters led by Goldman Sachs Canada, BMO Nesbitt Burns, RBC Dominion Securities and TD Securities were granted an overallotment option allowing them to purchase another 2.1 million in shares.
If the option is exercised, it will result in another $45 million in gross proceeds.
The underwriters have 30 days to decide whether to make use of the option.
Groupe Dynamite says the IPO was the first in Quebec in nearly three years and the first Canada has seen in the last year.
This report by The Canadian Press was first published Nov. 26, 2024.
Companies in this story: (TSX:GRGD)