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Neiman Marcus Prepares for $100M Share Listing

Aug 6, 2015 5:12 AM   By Ronen Shnidman
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RAPAPORT... Neiman Marcus, a U.S.-based luxury retailer, said its planning an initial public offering to raise $100 million capital in a filing made with the U.S. Securities and Exchange Commission (SEC) on Tuesday. The value of the IPO may change in later filings after a specific share price is set.

There are 41 full-line Neiman Marcus stores and two Bergdorf Goodman stores in the U.S., which carry jewelry brands such as David Yurman, Gucci and Van Cleef & Arpels, among others. The namesake store brand was founded over 100 years ago and attracts an affluent U.S. consumer clientele that are 79 percent female and at an average age of 51.

Neiman Marcus also operates the Munich-based online brand My Theresa, which it acquired last year and that is targeted toward younger consumers in Europe, the Middle East and East Asia.

The company stated in its S-1 filing that it intends to list its common shares under the ticker symbol NMG. The filing did not specify on which exchange its shares would be traded or the investment banks that would be underwriting the IPO.

Ares Management and the Canadian Pension Plan Investment Board, which together bought a majority stake of Neiman Marcus in 2013 for $6 billion, plan to retain a majority stake even after the IPO.
Tags: Bergdorf Goodman, david yurman, ipo, My Theresa, Neiman Marcus, Ronen Shnidman, share listing
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