Apparel International Holdings Ltd., the backer of Tommy Hilfiger, took home $141.2 million before underwriting costs from the sale of seven million shares of Tommy Hilfiger Corp.
The secondary offering was priced Thursday at $20.25 a share.
With the offering, AIHL’s stake in the company was cut to 9.4 percent from 29.2 percent. AIHL is 70 percent owned by Silas Chou, chairman of Tommy Hilfiger Corp., and Lawrence Stoll, chief executive officer of Tommy Hilfiger Far East. The designer holds 22.5 percent, and Joel Horowitz, ceo of the Hilfiger company, holds 7.5 percent.
The Hilfiger company did not receive any proceeds from the offering.
— Fairchild News Service