Hudson's Bay decreases proposed IPO deal size

By Renaissance Capital,

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Hudson's Bay Co., which operates the Hudson's Bay department stores in Canada and Lord & Taylor stores in the US, lowered the proposed deal size for its upcoming IPO on Monday. The Toronto, Canada-based company now plans to raise C$365 million at a price range of C$17 to C$18. The company had originally planned to raise C$400 million at a price range of C$18.50 to C$21.50. Hudson's Bay plans to list on the Toronto Stock Exchange under the symbol HBC.CN. RBC Capital Markets, BMO Capital Markets, CIBC World Markets and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price later tonight.

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