(Reuters) - Canadian apparel company Roots Corp raised C$200 million ($159.71 million) in its initial public offering, according to a source with direct knowledge of the matter.
The company priced its shares at C$12 on the Toronto Stock Exchange, according to the source, down from a previous range of C$14 to C$16.
Roots, known for its trademark beaver logo, is set to make its debut seven months after Canada Goose Holdings Inc (GOOS.TO) had its high-flying IPO.
However, investment strategists warned that investors may be in for a disappointment, given Roots’ more modest growth and broader retail challenges.
Reporting by John Tilak in Toronto and Uday Sampath in Bengaluru