Jamieson Wellness Said to Seek C$300 Million in Canadian IPO
(Bloomberg) -- Canadian vitamin and natural health products company Jamieson Wellness Inc. plans to raise C$300 million ($223 million) in its initial public offering, according to people familiar with the matter.
The Toronto-based firm, which filed for an IPO last week, will start a roadshow for investors in mid-June before pricing shares toward the end of the month, said the people, who asked not to be named because the details aren't public. Jamieson, which has been making vitamins in Canada since 1922, is expected to start trading in Toronto in early July, the people said.
Backed by U.S. buyout firm CCMP Capital Advisors, Jamieson is pursing an IPO after failing to find a buyer last year. The company shopped itself primarily to Chinese buyers amid a wave of consumer demand for dietary supplements in the country. Shanghai Pharmaceuticals Holdings Co. and Chinese dietary supplement maker By-health Co. were among suitors for Jamieson, which was seeking a valuation of as much as $1 billion, people familiar with the matter said at the time.
The IPO is being led by Bank of Montreal and Royal Bank of Canada.
CCMP agreed to acquire Jamieson in 2014 for about C$300 million, according to data compiled by Bloomberg. The vitamin maker has corporate offices in Toronto and makes its products at facilities in Windsor, Ontario, according to its website.
To contact the reporter on this story: Scott Deveau in Toronto at sdeveau2@bloomberg.net.
To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, Jeanette Rodrigues
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