Nov 12 Mountain resort operator Intrawest
Resorts Holdings, owned by private equity firm Fortress
Investment Group LLC, filed with U.S. regulators to
raise up to $100 million in an initial public offering of common
The owner of Canadian Mountain Holidays, the largest
heli-skiing adventure operator in the world, was taken private
by Fortress in 2006 for about $2.8 billion, including debt.
Intrawest has interests in seven mountain resorts in North
America and runs Club Intrawest, a private vacation club with
eight locations across the U.S., Canada and Mexico.
The Denver-based company intends to use proceeds from the
IPO for investments and acquisitions, it said in a regulatory
filing on Tuesday. ()
The amount of money a company says it plans to raise in its
first IPO filing is used to calculate registration fees. The
final size of the IPO could be different.
The filing did not reveal how many shares Intrawest or
Fortress planned to sell or their expected price.
Intrawest said it plans to list its stock on the New York
Stock Exchange, but did not disclose its intended stock symbol.
The company's net loss narrowed to $296.7 million, while
revenue rose to $524.4 million in the year ended June 30, 2013.
Total long-term debt was $1.95 billion as of June 30,
according to the IPO filing.