March 16, 2017 / 2:28 AM / 4 months ago

Canada Goose prices IPO at C$17 per share

2 Min Read

(Reuters) - Retailer Canada Goose Holdings Inc said on Wednesday it has priced its initial public offering at C$17 ($12.78) per share, above its target range.

The issue will raise C$340 million.

The maker of luxury winter down jackets had earlier expected to price the offering of 20 million shares at C$14-C$16 per share.

The Toronto-based company will list its subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "GOOS".

Canada Goose, which started in a small warehouse in 1957, sold a majority stake in 2013 to Bain Capital LLC, for an undisclosed amount, to help meet its growth ambitions.

The down used in Canada Goose coats, which sell for as much as $700 apiece, is a byproduct of the food industry, with most of it sourced from Hutterite farmers who raise free-range flocks in the Canadian prairies.

Down jackets are insulated with soft and warm underfeathers from duck or geese.

CIBC Capital Markets, Credit Suisse, Goldman Sachs & Co and RBC Capital Markets are lead underwriters to the offering.

Reporting by Nikhil Subba in Bengaluru, Additional reporting by Parikshit Mishra; Editing by Vyas Mohan

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