June 26, 2017 / 2:48 PM / in 2 months

BUZZ-Canada Goose: Loses altitude ahead of shareholder sale

** U.S.-listed shares of Canada Goose fall ~7 pct in early trade as sponsor Bain Capital and certain members of management look to cut their holdings just 3 months after luxury parka maker's IPO

** Bookrunners CIBC, Credit Suisse, Goldman and RBC waive lock-up restrictions on behalf of underwriters; secondary offering of 12.5 mln subordinate voting shares on course to price after market close on Tues

** Bain selling 10.55 mln shares; post offering, PE firm will control approx 64 pct of combined voting power of co's multiple voting shares (10 votes/sh) and subordinate voting shares (1 vote/sh), according to prospectus

** Earlier this month, and U.S.-listed GOOS shares both soared >90 pct since the IPO in wake of co's smaller-than-expected Q4 loss

** Canada Goose, which was acquired by Bain in 2013, went public at C$17 (US$ equivalent $12.78) in a heavily oversubscribed offering

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below