Sept 30 The Container Store Group Inc, a
retailer of storage products, filed with U.S. regulators to
raise up to $200 million in an initial public offering of its
The company, which sells a range of storage products from
laundry baskets to luggage, said it operates 62 stores in 22
American states and the District of Columbia.
The Container Store's net sales grew 11.5 percent to $706.7
million in the year ended March 2. Net loss narrowed to $130,000
from $30.7 million.
The 35-year-old retail chain said it plans to use the
proceeds of the offering to pay a dividend to holders of its
senior preferred stock and to repay debt.
The Coppell, Texas-based company intends to list its common
stock on the New York Stock Exchange under the symbol "TCS," ,
it told the U.S Securities and Exchange Commission in a
preliminary prospectus. ()
The filing did not reveal how many shares the company
planned to sell or their expected price.
J.P. Morgan Securities LLC, Barclays Capital Inc, Credit
Suisse Securities (USA) LLC, Morgan Stanley & Co LLC, Merrill
Lynch, Pierce, Fenner & Smith Inc, Wells Fargo Securities LLC
and Jefferies LLC were the lead bookrunners for the IPO.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.