Myer seeks to raise US$2bil in share offer


  • Business Premium
  • Tuesday, 29 Sep 2009

MELBOURNE: Myer, Australia’s largest department store chain, plans to raise up to US$2bil in a share offering that will test investor appetite for retail stocks and may encourage other IPOs in the sector.

Myer, which was taken private by US private equity firm TPG in 2006, said in its prospectus yesterday that it would offer up to 499.5 million shares at A$3.90 to A$4.90 each.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Boustead 1Q profit soars 573% on land disposal Premium
Ringgit gains momentum to end higher versus US dollar Premium
Axiata appoints joint acting group CEOs as Izzaddin Idris steps down Premium
Escalating costs a drag on Tuju Setia’s earnings Premium
Affin Bank 1Q net profit more than doubles to RM143mil Premium
Last-minute buying interest pushes KLCI higher Premium
Oil on track for weekly rise amid global supply concerns Premium
Exports of articles of apparel and clothing accessories up 18.5% y-o-y to RM499.9mil Premium
Etiqa unveils its first ESG fund Premium
DNeX posts net profit of RM51.6mil in Q3 Premium

Others Also Read