A signboard at the TMX in Toronto on Nov. 1, 2023.Chris Young/The Canadian Press
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 Canada and the U.S.
The offering is being underwritten by a syndicate led by Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc.