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BURLINGTON STORES IPO EXPECTED THIS WEEK: Burlington Stores is expected to complete its planned initial public offering this week, according to Renaissance Capital. The company, which operates Burlington Coat Factory, plans to raise $200 million via the offering of 13.3 million shares.
The price range for the shares is expected at between $14 to $16 a share. Burlington Stores said that at the midpoint of the proposed range, the company would have a market value of $1.1 billion. Once the IPO is completed, Burlington will be listed on the New York Stock Exchange and trade under the symbol “BURL.”
Burlington Coat was acquired in 2006 by Bain Capital in a transaction valued at $2.06 billion. Following the IPO, Bain will remain a majority shareholder. The IPO gives the private equity firm a partial exit of its investment.
RELATED STORY: Fashion World Preps for Spate of IPOs >>