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Canada Goose goes on sale in Toronto and New York
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Canada Goose goes on sale in Toronto and New York

India Blooms News Service | | 17 Mar 2017, 11:27 pm
Toronto, Mar 17 (IBNS): The Toronto-based company Canada Goose, popular for its winter jackets and for its $900 parkas with fur-lined hoods, has gone public in stock markets in Toronto and New York under the symbol “GOOS,” media reports said.

Canada Goose presented with an initial public offering of 20 million shares priced at $17 per share under the symbol GOOS, Canadian Press News reports said.

Shortly after markets opened, Canada Goose shares opened at $23.86 on the Toronto Stock Exchange, later sliding to $22.19 as of Mar 16, 11 a.m. ET.

In New York, shares opened at US$18 about 90 minutes after the opening bell and were trading at US$16.75

The outerwear manufacturer said that 12.85 million shares out of the 20 million subordinate voting shares offered, will come from existing shareholders.

The existing shareholders will hold 79 to 81 percent of the company after the sale, depending on if an over-allotment privilege is used by underwriters.

Canada Goose’s warm coats had been popular in Antarctica and fashion industry by trekkers and Its parkas, which retail for up to $1,500, had been worn by celebrities

According to securities filings, the company said, it had a revenue of $290.8 million and net income of $26.5 million in fiscal 2016

The company operated two retail stores in Toronto and New York and its products can be found in 36 countries worldwide. 70 percent of Canada Goose is owned by Investment firm Bain Capital, which it acquired in December 2013.

Canada Goose had faced controversy with People for the Ethical Treatment of Animals (PETA) for its use of coyote fur in its jackets.

PETA bought $4,000 worth of Canada Goose shares -- minimum amount required to contribute to shareholders’ meetings -- PETA spokesperson Ben Williamson told Global News today.

This would allow PETA to  go to Canada Goose's annual meetings to submit shareholder resolutions compelling Canada Goose to stop sourcing animal products.

PETA said that it will keep company’s shares until it had seen that enough progress had been made, said Williamson.

When asked, what PETA planned to do with this investment, it said that all the proceeds from the profit would be used for PETA’s non-profit endeavours.

 

(Reporting by Asha Bajaj)

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Erdogan's Turkey turns Hagia Sophia into a mosque again; UNESCO regrets #HagiaSophia, #Turkey, #Istanbul, #HagiaSophiaMosqueAgain Istanbul/IBNS: Hagia Sophia, Turkey's iconic monument, a UNESCO World Heritage and one of the central attractions of its capital Istanbul, is no longer a museum. It has been turned back as a mosque though some 1500 years ago it was built as an Orthodox Christian cathedral. Hagia Sophia was converted into a mosque during the Ottoman time in 1453 while under Ataturk it was turned into a museum in 1935. The decision comes amid a growing rise of the Islamists in Turkey who had been demanding that it be restored as a mosque though Opposition leaders with secular credentials had been against the move. A top court in Turkey ruled that turning it into a museum in 1935 by modern Turkey's secular architect Mustafa Kemal Ataturk was illegal, paving the way for present Turkey president Recep Tayyip Erdogan to declare it as a mosque again and to open it for Muslim prayers. Erdogan made the announcement an hour after the court ruled the conversion to museum in 1935 as illegal and scrapped its status. "May it be beneficial," posted Erdogan on Twitter, sharing an official document on the change with his signature. UNESCO regrets In an immediate reaction, UNESCO said it "deeply regrets" the decision. UNESCO said it was "regrettable that the Turkish decision was not the subject of dialog nor notification beforehand". "UNESCO calls on the Turkish authorities to open a dialog without delay in order to avoid a step back from the universal value of this exceptional heritage whose preservation will be reviewed by the World Heritage Committee in its next session," the United Nation's cultural body said in a statement. Istanbul icon of beauty and wonderment According to Turkey's official tourism website, Hagia Sophia is a remarkable achievement in the history of architecture. and a living proof of mankind's revolt against the laws of physics and it calls it a monument whose importance transcends borders. It is one of UNESCO's World Cultural Heritage sites attracting millions of visitors across the world with its majestic grandeur

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Erdogan's Turkey turns Hagia Sophia into a mosque again 11 Jul 2020, 01:37 pm