Companies and Brands
Tumi Sets IPO Terms, Another Luxury Goods Coming Public
Published:
Last Updated:
Luxury baggage maker Tumi Holdings, Inc. has set the terms for its proposed initial public offering. The company now plans to sell 18,779,865 shares in a price range of $15 to $17 each and it is listing its shares on the New York Stock Exchange under the “TUMI” stock ticker.
The company itself is selling 17,559,248 shares of the total offering, with selling stockholders selling an additional 1,220,617 shares. Tumi plans to use the proceeds from the offering to purchase preferred shares from shareholders.
Credit Suisse, Goldman Sachs Group, and J.P.Morgan are leading the group of underwriters in this offering; William Blair and Jefferies are also in the syndicate. In 2011, Tumi’s sales were roughly $330 million and its operating income was more than $60 million.
The total number of shares being registered including the overallotment option is 21,596,845 shares. The company will continue to be controlled by funds managed by or entities affiliated with Doughty Hanson & Co Managers Limited.
JON C. OGG
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
