Canada Goose up $4.53 from IPO price, down $2.33 from opening price

Ted Liu

Canada Goose Holdings Inc. (TSX/NYSQ: GOOS) has completed its initial public offering (IPO) and con-current secondary offering of 20,000,000 subordinate voting shares at CDN $17.00 per share (all figure in Canadian dollars) for gross proceeds of $340 million.

13,691,846 subordinate voting shares were sold by the selling shareholders: 7,226,054 by Bain Capital, 4,107,554 by Dani Reiss, 454,175 by Jewish Philanthropies of Greater Boston, Inc., and 1,904,063 by Fidelity Investments Charitable Gift Fund.

Canada Goose stock opened at $23.86 on TSX and closed at $21.53, down $2.33 from opening but up $4.53 from IPO offering price at the end of its first day trading on March 16, 2017.

Following the closing of the IPO, Bain Capital and Reiss own 60,415,708 and 25,892,446 multiple voting shares respectively, representing 57% and 24% equity interest, 68% and 29% of voting interest.

At the IPO price, Canada Goose is capitalized at $1.807 billion while Bain Capital and Reiss holdings worth $1.027 billion and $440 million respectively.

Canada Goose was founded in 1957. In December 2013, Bain Capital acquired a 70% equity interest in the company, in a deal valuing Canada Goose with an enterprise value of $209.7 million. The transaction was supported by debt financing of $99.6 million.

photo credit: TMX