April 28, 2011 / 7:15 PM / 9 years ago

UPDATE 1-Teavana Holdings files for up to $100 mln IPO

* Intends to list under symbol “TEA” on New York Stock Exchange

* Says proposed IPO price an estimate only for calculating SEC registration fee (Adds details, follows alerts)

April 28 (Reuters) - U.S speciality tea retailer Teavana Holdings Inc has filed with the U.S. regulators to raise up to $100 million in an intital public offering to redeem some of its shares, pay off debt and for general corporate purposes.

Atlanta, Georgia-headquartered Teavana intends to apply for listing of its common stock under the symbol “TEA” on the New York Stock Exchange, said the company in a filing with the U.S. Securities and Exchange Commission.

Founded in 1997, the retailer of premium loose-leaf teas and teawares reported $124.7 million in 2010 sales and has a store base of 146 stores.

The company said Merrill Lynch, Pierce, Fenner & Smith Inc and Goldman, Sachs & Co. are the underwriters for the offering.

Reporting by Rachel Chitra in Bangalore

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