Hudson's Bay files prospectus for IPO

New York -- Hudson's Bay Co. announced that it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of common shares. The company, which has been owned by NRDC Equity Partners since 2008, operates U.S. department store chain Lord & Taylor, along with The Bay and Home Outfitters chains in Canada.

The proposed offering is being made through a syndicate led by RBC Capital Markets, BMO Capital Markets, CIBC and BofA Merrill Lynch, who will act as joint bookrunners. The offering has yet to be priced.