Fast-Fashion Retailer Groupe Dynamite Seals $215 Million IPO in Canada
- Deal cements its main shareholder’s status as a billionaire
- Company owns hundreds of stores under Garage, Dynamite brands
A pedestrian walks past a closed Garage store in Montreal in 2022.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Canadian fast-fashion retailer Groupe Dynamite Inc. will start trading in Toronto on Thursday after sewing up a C$300 million ($215 million) initial public offering that will cement its largest shareholder’s status as a billionaire.
The Montreal-based company said late Wednesday it has signed an agreement with underwriters to go public at C$21 per share — the middle of the C$19 to C$23 range it announced last week. At that price, the company is set to have a market capitalization of about C$2.3 billion.