Le d茅taillant Groupe Dynamite affiche des b茅n茅fices et des ventes 脿 la hausse

Le d茅taillant de v锚tements Groupe Dynamite a d茅clar茅 avoir r茅alis茅 un b茅n茅fice de 40,4 millions $ au cours de son troisi猫me trimestre, en hausse par rapport aux 34,9 millions $ du m锚me trimestre l'an dernier. Un magasin de v锚tements Dynamite 脿 Montr茅al, le vendredi 15 novembre 2024. LA PRESSE CANADIENNE/Graham Hughes

 GAC

Groupe Dynamite Inc. says it has closed its initial public offering.

The Montreal-based firm behind the Garage and Dynamite retailers says the offering wound up oversubscribed.

As part of the offering, shareholders controlled by CEO Andrew Lutfy sold more than 14.3 million subordinate voting shares for $21 each, giving them aggregate gross proceeds of about $300 million.聽

The company's shares closed at $20.32 on the Toronto Stock Exchange on Monday.

A syndicate of underwriters led by Goldman Sachs Canada, BMO Nesbitt Burns, RBC Dominion Securities and TD Securities were granted an overallotment option allowing them to purchase another 2.1 million in shares.

If the option is exercised, it will result in another $45 million in gross proceeds.

The underwriters have 30 days to decide whether to make use of the option.

Groupe Dynamite says the IPO was the first in Quebec in nearly three years and the first Canada has seen in the last year.

This report by 春色直播was first published Nov. 26, 2024.

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