NEW YORK (AP) - Luxury retailer Neiman Marcus plans to raise up to $100 million from an initial public offering of its common stock.
NEW YORK (AP) — Luxury retailer Neiman Marcus plans to raise up to $100 million from an initial public offering of its common stock.
That amount is likely to change though as bankers gauge investor interest.
Private equity firms TPG Capital and Warburg Pincus are the selling shareholders. The firms bought Neiman Marcus in 2005 for $5.1 billion. Neiman Marcus won't receive any proceeds from the offering.
The Dallas company runs its namesake stores, Bergdorf Goodman, Cusp and discount shops under the Last Call brand.
Neiman Marcus Inc. did not disclose how many shares would be offered, or what the projected price range would be. A regulatory filing by the company also did not disclose what exchange it expects to list the stock on and what the anticipated ticker symbol is.