Groupe Dynamite launches IPO with shares priced between $19 and $23 each

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.
This report by The Canadian Press was first published Nov. 11, 2024.