Mar 1, 2010
German fashion house Tom Tailor aims for IPO in first half
Mar 1, 2010
FRANKFURT, March 1 (Reuters) - German fashion house Tom Tailor aims for a listing on Frankfurt's stock market by June, it said on Monday 1 March, just weeks after British fashion retailer New Look gave up similar plans due to turbulent financial markets.
A source close to the transactions said Tom Tailor would float its shares before the Easter holidays in early April.
New Look postponed its planned initial public offering (IPO) in February, making it the third private equity-backed firm in as many days at the time to abandon a flotation.
Tom Tailor made about 300 million euros ($407.6 million) in sales last year with its casual fashion lines for men, women and children.
Tom Tailor plans to sell shares from existing shareholders as well as new shares from a capital increase and aims to raise about 140 million euros ($190.2 million).
It plans to use the proceeds to fund its expansion and to strengthen its capital base, it said.
J.P. Morgan (JPM.N) and Commerzbank (CBKG.DE) are global bookrunners for the IPO, the third to emerge in Germany within days.
(Reporting by Matthias Inverardi and Kerstin Leitel; Writing by Eva Kuehnen; Editing by Michael Shields)
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