Pet Valu Closes IPO Issuing 15.8 Million Shares, Raises $316.3 Million

Pet Valu Holdings Ltd. (TSX: PET) closed its initial public offering today, raising gross proceeds of $316.3 million. The company went public on the Toronto Stock Exchange on June 24, 2021, under the symbol “PET”.

The company was able to issue 15,812,500 million common shares, including the exercised over-allotment option of additional 2,062,500 shares, at $20.00 per share. 

The public offering was made through a syndicate of underwriters led by RBC Capital Markets, Barclays, and CIBC Capital Markets.

The Ontario-based pet goods retailer has 600 corporate-owned and franchised locations across Canada.

Pet Valu Holdings last traded at $23.03 on the TSX.

Information for this briefing was found via Sedar and Pet Valu. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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