Groupe Dynamite has initiated a $300-million IPO on the Toronto Stock Exchange, trading under the ticker GRGD, marking a significant event in the Canadian market.
With a market capitalization of $2.3 billion, Groupe Dynamite's CEO Andrew Lufty will become a billionaire as he retains 87 percent ownership of the company.
The underwriting group led by Goldman Sachs and others has the option to issue an additional 2.14 million shares, expanding their offering post-IPO closure.
Founded in 1975, Groupe Dynamite has transformed from a single Montreal store into a prominent retailer with nearly 300 locations across North America and a workforce of 6,000.
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