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Burlington to Launch IPO This Week

Discount apparel retailer Burlington Stores will launch its initial public offering of 13.3 million shares this week, hoping to raise some $200 million.  Shares are expected to trade at between $14 to $16.  Burlington, to be listed on the NYSE as “BURL,” is owned by Bain Capital, which acquired the firm in 2006, will continue owning a majority equity stake in the retailer, but will take some money off the table from sale of shares.

Burlington, a 503-store chain, can claim a market value of $1.13 billion if shares average $15.  The company was purchased by Bain for $2.06 billion.

As of the six months ending August 3, 2013, Burlington’s total revenues were $2,044,469,000.  Net income was $30,577.000.  Assets totaled $2,565,900,000.