Retailer Hudson’s Bay Co. files for initial public offering of shares
TORONTO – The Hudson’s Bay Co. is going to make a return to the stock market.
The retailer, which is Canada’s oldest company, says it has filed a preliminary prospectus for an initial public offering of its shares.
The owner of The Bay department stores last traded on the Toronto Stock Exchange in 2006 before it was taken private by U.S. businessman Jerry Zucker.
New York-based NRDC Equity Partners, owner of American department store chain Lord & Taylor, acquired the company in 2008.
The company sold leasing rights last year on more than 200 Zellers locations to U.S. retailer Target.
There has been speculation from time to time that Hudson’s Bay Co. would may be preparing for a return to the public market.
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