Storage and organization products retailer Container Store Group Inc had laid out plans to sell USD225 million worth of shares in its US IPO. It had priced its shares at the top of an increased range set for the sale.
The company had prepared to sell 12.5 million shares priced at USD18 per share. This was confirmed through a statement made today. The shares comprised 27% of the total shares outstanding for the company and had initially priced the shares between USD14 and USD16 per share. The said shares would start trading Friday at the New York Stock Exchange under the ticker symbol TCS.
The company is based out of Coppell, TX and is the only national retailer with an exclusive product line of storage and organizational products. In the year ending March 2, 2013, the company's 2012 sales reached USD700 million according to its regulatory filing. The said share offer is the second largest conducted for a retailer in 2013. The largest is Burlington Stores Inc, which is owned by Bain Capital LLC, which raised USD226.7 million in early October, according to Bloomberg compiled data.
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