Cole Haan files to withdraw IPO
Jan 25, 2021
Cole Haan has filed to withdraw its initial public offering. The Apax Partners-owned shoemaker filed the application last Friday, according to a regulatory filing.
Cole Haan originally made its U.S. listing application public in February after confidentially filing it with regulars in October 2020. The original estimated deal was worth 200 million dollars.
The Greenland, New Hampshire-based company saw 738 million dollars in sales for the 12 months ending November 30, 2019. Cole Haan had planned to list on Nasdaq under the symbol CLHN. BofA Securities, Morgan Stanley, J.P. Morgan and Goldman Sachs were set to be the joint bookrunners for the deal.
While Cole Haan has not confirmed the reason for the withdrawal of their IPO, reasons that companies sometimes withdraw IPO’s include venture capital and private equity involvement or the intent to retire debt.
FashionUnited has reached out to Cole Haan for comment.
photo : via colehaan.com