Aéropostale-Owner Authentic Brands Withdraws IPO Plans

0
239

Apparel chain operator Authentic Brands Group Inc has withdrawn its plans for an initial public offering in the United States, according to its filing with the securities regulator.

The company, which did not give a reason for shelving its listing, had agreed in November to sell a stake to private equity firms CVC Capital Partners and HPS Investment Partners in a deal that valued it at US$ 12.7 billion including debt.

Also Read  US Teens Plan To Spend US$ 66 Billion On Shopping This Year : Survey

The group owns more than 30 brands including Forever 21, Aeropostale, Van Heusen and Bandolino with a retail portfolio spanning across luxury, specialty, department store, mid-tier, mass and e-commerce segments.

Media reports earlier this week said the company had bought a majority stake in former soccer player David Beckham’s brand-management company, DB Ventures LLC.

Also Read  Bulgaria Hiring RMG Workers From Bangladesh

Authentic Brands in July last year had filed to go public, intending to list on the New York Stock Exchange, revealing a strong jump in earnings in 2020.

Also Read  Halloween Participation Returns To Pre-Pandemic Levels With Record Spending

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.