Mon. Sep 28th, 2020

Shoemaker Cole Haan makes U.S. IPO filing public

1 min read

Apax Partners-owned shoemaker Cole Haan Inc, formerly a part of Nike Inc, on Friday made its U.S. listing application public, after confidentially filing https://www.sec.gov/Archives/edgar/data/1791100/000119312520037131/d811846ds1.htm it with the regulators in October.

Nike sold its Cole Haan handbag and shoe brand to private equity firm Apax Partners in 2012 for $570 million, nearly 24 years after acquiring it. (https://reut.rs/2SN0Hhp)

The IPO is part of a broader wave of U.S. retail listings in 2020 by companies including Casper Sleep, Madewell, and MyTheresa.

Cole Haan posted revenue of $686.6 million for the year ended June 1, 2019, up 14.1% from a year earlier, and reported a 43.4% rise in profit to $33.1 million.

The company said it would not receive any proceeds from the offering as all the shares to be sold will come from stockholders.

Cole Haan intends to list its shares on the Nasdaq under the symbol “CLHN.”

BofA Securities, Morgan Stanley, J.P.Morgan and Goldman Sachs are the lead underwriters to the IPO. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)

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