The Guess Corporation Seeking Investment Banks For Its Planned IPO in 2017
DURHAM, NORTH CAROLINA , July 18, 2016 (Newswire.com) - The Guess Corporation is soliciting interest from regional, national and international banks for its planned initial public offering in 2017. Company management will be reviewing proposals in August and holding meetings in September. Several investment banks will be allowed to underwrite the planned offering. The company intends to sell 26 million shares of common stock at $100.00 over its par value or $225 per share. The Guess Corporation intends to raise over $5.5 billion through the offering. The company has not determined an exchange and will consider both the New York Stock Exchange and the NASDAQ. Proceeds of the offering will be used for acquisitions, expansion of existing businesses and general corporate purposes. The company intends to go public in March of 2017.
In order to prepare for an IPO, The Guess Corporation has chosen to commence an intense selection process for its investment bankers. The company will be offering premium fees for guaranteed underwriting and follow-on offerings. Prospective investment bankers will be required to provide proposals and also must include a senior member of management to work with The Guess Corporation's management. The company is also seeking guidance from the investment bankers on preparing for the IPO such as developing internal controls, board governance policies and other compliance matters to ensure success as a publicly-traded company. The ownership of the company's shares is also an important consideration. In effort to ensure stability of its share price for the long-term, the company will require investment bankers to seek out long-term institutional investors for the offering that are interested in value appreciation over time as opposed to regular trading.
"We look forward to engaging investment bankers that will take time to understand The Guess Corporation and provide their unwavering commitment throughout this process and as a future publicly-traded company that will always seek to perpetually create value for its shareholders," the company issued in a statement.
ABOUT THE GUESS CORPORATION
The Guess Corporation is a conglomerate based in Durham, North Carolina and is currently privately-held. The company began as a luxury goods holding company in 2012 with a focus on diamonds and has expanded into other business areas.
This is not an offer or solicitation to sell any securities of The Guess Corporation.
Source URL: http://prweb.com/releases/theguesscorporation/plannedIPO/prweb13564570.htm
Source: The Guess Corporation
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