Cole Haan, a premium manufacturer of shoes and other luxury accessories, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $200 million. The company will not receive any of the proceeds as the shares will be offered by existing shareholders.
The Greenland, NH-based company was founded in 1928 and booked $738 million in sales for the 12 months ended November 30, 2019. It plans to list on the Nasdaq under the symbol CLHN. BofA Securities, Morgan Stanley, J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
