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Roots Corp prices IPO at C$12 per share - source
October 17, 2017 / 10:13 PM / 2 months ago

Roots Corp prices IPO at C$12 per share - source

Oct 17 (Reuters) - Canadian apparel company Roots Corp raised C$200 million ($159.71 million) in its initial public offering, according to a source with direct knowledge of the matter.

The company priced its shares at C$12 on the Toronto Stock Exchange, according to the source, down from a previous range of C$14 to C$16.

Roots, known for its trademark beaver logo, is set to make its debut seven months after Canada Goose Holdings Inc had its high-flying IPO.

However, investment strategists warned that investors may be in for a disappointment, given Roots’ more modest growth and broader retail challenges. ($1 = C$1.25) (Reporting by John Tilak in Toronto and Uday Sampath in Bengaluru)

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