Francesca’s Holdings files IPO
New York City -- Women’s fashion apparel retailer Francesca's Holdings Corp. filed for up to an estimated $150 million to be raised in an initial public offering.
The company has about $41.4 million in proceeds from the offering earmarked toward repaying a senior secured credit facility, Dow Jones Newswires reported. Remaining funds may be used for opening new stores and growing its e-commerce business.
For the year ended Jan. 29, Francesca's same-store sales climbed 15% on top of a 9.8% increase a year earlier.
The company, whose stores operate under the Francesca’s Collections banner, plans to list its stock on the Nasdaq Global Market under the symbol FRAN.
Francesca’s was acquired by New York-based private equity firm CCMP Capital Advisors last year. CCMP will continue to hold a controlling stake after the IPO, the report said.