Duluth Trading Co. to hold public stock offering
Belleville-based Duluth Trading Co. is looking to raise more than $91 million in its initial public stock offering, the company announced in a securities filing Monday.
More than $51 million would go to existing shareholders, while the other $40 million will be used by the company on its retail store expansion plan, the company disclosed.
Duluth Holdings Inc. will be listed on the Nasdaq exchange under the ticker symbol DLTH. The company expects to sell about 6.7 million shares in the offering at $14 to $16 each.
Duluth sales totaled $232 million last year, a 42% increase from 2013. Ninety percent of its revenue originated from online or catalog transactions.