Groupe Dynamite files for IPO to list on Toronto Stock Exchange

By The Canadian Press on November 8, 2024.

Montreal-based clothing retailer Groupe Dynamite Inc. says it has filed a preliminary prospectus for an initial public offering to list on the Toronto Stock Exchange..The TMX Market Centre is shown in Toronto, Wednesday, Sept. 11, 2024. THE CANADIAN PRESS/Paige Taylor White

Montreal-based clothing retailer Groupe Dynamite Inc. says it has filed a preliminary prospectus for an initial public offering to list on the Toronto Stock Exchange.

The number of shares and offering price for the IPO have not yet been determined.

The company operates stores under both the Garage and Dynamite banners and has 300 stores across Canada and the U.S.

A majority of its new locations since 2022 have been in the U.S. market, where the company says it plans to continue growing.

It also has plans to expand in other jurisdictions such as the U.K.

The offering is being underwritten by a syndicate led by Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc.

This report by The Canadian Press was first published Nov. 8, 2024.