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.