Jamieson Wellness Said to Raise C$300 Million in Canadian IPOBy
Company priced its shares near high end of range at C$15.75
Vitamin and health product company has value of C$628 million
Jamieson Wellness Inc., the Canadian vitamin and health-products company, raised C$300 million ($242 million) in its initial public offering, according to people familiar with the matter.
The Toronto-based company priced its shares at C$15.75 apiece, near the top of the marketed price range of C$14 to C$16 each, said the people, who asked not to be identified because the matter is private. The IPO gives it a market value of about C$628 million, based on the number of shares outstanding after the listing.
The company is expected to start trading next week in Toronto under the ticker JWEL. A representative for Jamieson wasn’t immediately available for comment.
Backed by U.S. buyout firm CCMP Capital Advisors, Jamieson is pursing an IPO after failing to find a buyer last year. The company shopped itself primarily to Chinese buyers amid a wave of consumer demand for dietary supplements in the country. Shanghai Pharmaceuticals Holdings Co. and Chinese dietary supplement maker By-health Co. were among suitors for Jamieson, which was seeking a valuation of as much as $1 billion, people familiar with the matter said at the time.
CCMP agreed to acquire Jamieson in 2014 for about C$300 million, according to data compiled by Bloomberg. The vitamin maker has corporate offices in Toronto and makes its products at facilities in Windsor, Ontario, according to its website.