US Markets

Pool supplies retailer Leslie's looks to raise up to $640 mln from IPO

Swimming pool supplies retailer Leslie's Inc said on Thursday it was planning to raise up to $640 million through its initial public offering (IPO).

Oct 22 (Reuters) - Swimming pool supplies retailer Leslie's Inc said on Thursday it was planning to raise up to $640 million through its initial public offering (IPO).

The company, which is backed by private equity firm L Catterton, is offering 40 million shares priced between $14 and $16 apiece, it said in a regulatory filing. Ten million of those shares are being offered by the selling stockholders, it added. (https://bit.ly/2HsHrDU)

At the top end of the range, Leslie's would be valued at $2.98 billion.

In August, Reuters reported that the company would be seeking a valuation around $3 billion in its IPO, citing sources familiar with the matter.

The offering comes amid a surge in demand for backyard pools as consumers living under lockdown look for more at-home leisure activities.

Goldman Sachs, Morgan Stanley and BofA Securities are the lead underwriters for Leslie's offering.

(Reporting by Niket Nishant in Bengaluru; Editing by Rashmi Aich)

((Niket.Nishant@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest US Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More