Luxury luggage manufacturer Tumi Holdings has revealed the terms of its IPO. The consumer business company is looking for $300 mn in fresh capital – offering 18.8 mn shares priced $15 to $17 each. Six percent of the shares offered are coming from insiders. At the mid-point, Tumi would hit a valuation of 1 bn. It plans to trade on NYSE under the symbol TUMI, and the lead underwriters are Goldman Sachs and Credit Suisse.
Source: Renaissance Capital