Iconic Canadian Retailer Roots Files for IPO

    Author Jen JiangPosted on Categories Retail, ConsumerTags , , , , , , , , , , , , , , , , , , ,
    Roots

    Roots Corp. is one of Canada’s leading lifestyle retailer brands, and the company filed a preliminary prospectus with the securities regulatory authorities in Canada for a proposed initial public offering of its common shares.

    Known for its trademark beaver logo, the company is seeking to raise about $200 million Canadian in the share sale this month and could see a market value of about $700 million Canadian after listing.

    Roots saw reported sales of $281.9 million in fiscal 2016, up 10% from a year earlier. The company’s net income nearly halved to $8.1 million in the same time frame.

    Lead underwriters of Roots’ IPO are TD Securities Inc, Credit Suisse Securities Inc and BMO Capital Markets.

    Further, this move seems to echo that of luxury jacket maker Canada Goose Holdings Inc’s (NYSE:$GOOS) IPO in March. Since then, shares of Goose have jumped nearly 27%.

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    Author Jen Jiang
    About the author: Jennifer is a University of Western Ontario graduate with a degree in International Business. She strives to excel as a content creator in the digital sphere, working with clients in the Finance and Tech industry to leverage clickable taglines, images, and articles in driving traffic. When not writing, Jennifer enjoys photography, copywriting, and video production.