Canada Goose Holdings Inc. plans to take the company public later this year, with dual listings for both New York and Toronto.
The company filed its plans to list the company last week. According to the regulatory filing — the prospectus — with the Securities and Exchange Commission, the company has applied for a listing of its subordinate voting shares on the New York Stock Exchange and on the Toronto Stock Exchange under the symbol GOOS. The company said in the filing that it will have two classes of shares outstanding, with the subordinate shares having one vote per share and the multiple voting shares having 10 votes a share. The subordinate shares cannot be converted, while the multiple voting shares are convertible into subordinate voting shares on a one-for-one basis under certain conditions.
The company said in the filing that it had net income of $26.5 million on net revenues of $290.8 million for the year ended March 31, 2016. Gross profit was listed at $145.6 million, with gross margins of 50.1 percent. The company said that as of Dec. 31, 2016, the brand was sold in 36 countries through nearly 2,500 wholesale doors.
Bain Capital acquired a 70 percent equity interest in the company in December 2013. Following the initial public offering, Bain will still own a controlling stake in the company. About 10 percent of the company will be sold through the IPO.
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, distributor and retailer of premium outerwear for men, women and children.”
Canada Goose reportedly could raise up to $300 million in its IPO.
Earlier this month, J. Jill filed a prospectus to go public, making Canada Goose the second fashion brand planning to go public this year.