The Globe and Mail is reporting that one of our favourite brands and iconic Canadian retailer, Roots, has filed a preliminary prospectus with the Canadian securities authorities in preparation for an initial public offering of its common shares.
Roots rose to prominence crafting quality leather goods and lifestyle wear, and is looking to raise $200 million CAD with the IPO, which could generate a market value of around $700 million CAD.
According to the Globe and Mail, the stock will trade on the Toronto Stock Exchange under the trading symbol ROOT.
With a new focus on the Roots’ core business and the launching of new concept stores, we believe Roots will continue to grow and be successful in the current retail climate.
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