TORONTO â€” Canada Goose, whose winter jackets have been made famous by the likes of Daniel Craig and Kate Upton, is going public today on stock markets in Toronto and New York.
The Toronto-based company, ubiquitous for its $900 parkas with fur-lined hoods, is debuting with an initial public offering of 20 million shares.
According to securities filings earlier this month, Canada Goose anticipates the shares will be priced between $14 to $16.
The outerwear manufacturer says that of the 20 million subordinate voting shares offered, 12.85 million shares will come from existing shareholders.
The existing shareholders will hold 79 to 81 per cent of the company after the sale, depending on whether underwriters exercise an over-allotment option.
The company will trade in Toronto and New York under the symbol GOOS.
Founded 60 years ago in Toronto, Canada Goose has built a reputation for making among the warmest coats people can buy. They have been worn by both trekkers in Antarctica and fashionistas.
The company operates two retail stores in Toronto and New York and its products can be found in 36 countries worldwide. Investment firm Bain Capital owns 70 per cent of Canada Goose, which it acquired in December 2013.
Canada Goose said it had revenue of $290.8 million and net income of $26.5 million in fiscal 2016, according to its securities filings.
It has also faced controversy, having been targeted by People for the Ethical Treatment of Animals for its use of coyote fur in its jackets.
The animal-rights group said it plans on buying around $4,000 worth of shares so it can speak at the company’s annual meetings and urge it to stop using coyote fur in its jackets. That is a tactic the group has used in the past with other companies such as Lululemon, Hermes, Louis Vuitton and Prada.
The Canadian Press