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Groupe Dynamite launches IPO with shares priced between $19 and $23 each

Retailer Groupe Dynamite Inc. says shares up for grabs in an initial public offering it launched will be priced between $19 and $23. The Montreal-based company's IPO will see 14.3 million subordinate voting shares issued through a secondary offering.
Tara Deschamps, The Canadian Press
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A signboard is displayed at the TMX in Toronto, Wednesday, Nov. 1, 2023. Groupe Dynamite Inc. has launched its initial public offering of subordinate voting shares. THE CANADIAN PRESS/Chris Young

Retailer Groupe Dynamite Inc. says shares up for grabs in an initial public offering it launched will be priced between $19 and $23.

The Montreal-based company's IPO will see 14.3 million subordinate voting shares issued through a secondary offering.

Selling shareholders are expected to also grant underwriters an option to acquire up to an additional 2.1 million subordinate voting shares to cover over-allocations.

Groupe Dynamite is best known for running womenswear retailers Garage and Dynamite.

The brands are both mall stalwarts with a combined 300 stores across ÎÚÑ»´«Ã½ and the U.S.

The offering is being underwritten by a syndicate led by Goldman Sachs ÎÚÑ»´«Ã½ Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc.

This report by The Canadian Press was first published Nov. 11, 2024.

Tara Deschamps, The Canadian Press