Tags: Michael | Kors | IPO

Michael Kors Seeks to Raise $792.3 Million in U.S. IPO

Friday, 02 Dec 2011 02:36 PM

Michael Kors Holdings Ltd., the luxury-clothing company, is seeking to raise as much as $792.3 million in a U.S. initial public offering.

The company said in a regulatory filing today that it is offering 41.7 million shares on behalf of existing shareholders for $17 to $19 each. Michael Kors Holdings isn’t selling any shares in the offering.

Morgan Stanley, JPMorgan Chase & Co. and Goldman Sachs Group Inc. are managing the IPO, according to the filing. The stock will trade on the New York Stock Exchange under the ticker KORS.

Michael Kors Holdings was founded in 1981. While it has principal executive offices in Hong Kong, designer Michael Kors leads a New York-based team that is responsible for the company’s products, according to the prospectus.

The IPO is scheduled to price on Dec. 14, according to data compiled by Bloomberg. The company won’t receive any proceeds from the IPO.

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