$400 million IPO expected for Aritzia

Aritzia’s shares have been priced at $16, with at least 25 million expected to be sold by its current investors through an initial public offering totalling at least $400 million — more than estimated in September. The Vancouver-based company — which has a network of 75 stores and an online business — won’t get any of the money but its current shareholders are in line to receive about $380 million after $20 million in fees paid to the underwriters. The IPO is expected to close Oct. 3. The shares will trade on the Toronto Stock Exchange under the symbol ATZ. Aritzia’s final prospectus filing late Monday indicates that at least 25 million of the shares will be sold through the IPO and the underwriters have the option for a further 15 per cent — up to 3.75 million shares — at the same price within 30 days.