The Container Store Group Inc, a retailer of storage products, filed with U.S. regulators to raise up to $200 million in an initial public offering of its common stock.
The company, which sells a range of storage products from laundry baskets to luggage, said it operates 62 stores in 22 American states and the District of Columbia.
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The Container Store's net sales grew 11.5 percent to $706.7 million in the year ended March 2. Net loss narrowed to $130,000 from $30.7 million.
The 35-year-old retail chain said it plans to use the proceeds of the offering to pay a dividend to holders of its senior preferred stock and to repay debt.
The Coppell, Texas-based company intends to list its common stock on the New York Stock Exchange under the symbol "TCS," , it told the U.S Securities and Exchange Commission in a preliminary prospectus.
The filing did not reveal how many shares the company planned to sell or their expected price.
J.P. Morgan Securities LLC (NYSE:JPM), Barclays Capital Inc (NYSE:BCS), Credit Suisse Securities (USA) LLC (NYSE:CS), Morgan Stanley & Co LLC (NYSE:MS), Merrill Lynch, Pierce, Fenner & Smith Inc, Wells Fargo Securities LLC (NYSE:WFC) and Jefferies LLC (NYSE:JEF) were the lead bookrunners for the IPO.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.