Canada Goose has begun trading today after pricing higher than the expected range for its initial public offering.The luxury maker of $900 goose down parkas priced its shares at 17 Canadian dollars, or $12.78, selling 20 million subordinate voting shares. According to the company, it will have a dual listing. The Toronto Stock Exchange has conditionally approved the listing, while the New York Stock Exchange has already approved the listing. The ticker symbol is “GOOS”. Dollar conversions are at current exchange. The pricing was initially expected at between 14 to 16 Canadian dollars, or $10.41 to $11.90.The shares are ended the day's trading session up $26.8 percent to close at $16.20.With a raise of 340 million Canadian dollars, or $252.8 million, the company has a market value of 1.82 billion Canadian dollars, or $1.35 billion. That’s significantly higher than the $250 million valuation range for the company in 2013 when Bain Capital acquired a 70 percent stake in the outerwear firm. Bain will continue to hold a controlling stake in the firm. About ten percent of the firm was sold through the IPO.Canada Goose is an outerwear brand best known for its cold weather parkers that retail for between $900 and $1,500. The firm’s registered trademarks are Canada Goose and Artic Program & Design.The company was founded in 1957 in a small Toronto warehouse. It also said in the prospectus that the company is “deeply involved in every stage of our business as a designer, manufacturer, distributer and retailer of premium outerwear for men, women and children.” The company is considering expansion into new markets that include knitwear, footwear and accessories.
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