May 3 (Reuters) – Private equity-backed jewelry and
accessories retailer Claire’s Inc filed with regulators to raise
up to $100 million in an initial public offering of its common
stock.
The company, which was taken private by Apollo Management LP
for about $3.1 billion in 2007, said it intends to list its
stock on the New York Stock Exchange under the symbol “CLRS”.
Funds backed by Apollo have a 97.7 percent stake in the
company, according to the filing. (http://r.reuters.com/bed87t)
The amount of money a company says it plans to raise in its
first IPO filing is a placeholder used to calculate registration
fees. The final size of the IPO could be different.
The company, which reported net sales of $1.56 billion in
fiscal 2012, plans to use proceeds from the IPO to repay debt.
It had 3,477 global stores as of Feb. 2.
The filing did not list underwriters and did not reveal how
many shares the company planned to sell or their expected price.
(Reporting by Aman Shah in Bangalore; Editing by Anil D’Silva)
