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Canada Goose IPO: Honk If You Feathered Your Nest With It

Image: Canada Goose IPO: Honk If You Feathered Your Nest With It

Canada Goose banner hangs at New York Stock Exchange on Thursday. (AP Photo/Mark Lennihan)

By    |   Friday, 17 Mar 2017 08:29 AM

Canada Goose's IPO was a big hit on the New York Stock Exchange on Thursday, as the coat company saw its initial public offering jump more than 25 percent, raising some $256 million in morning trading.

The successful debut came as activists from the People for the Ethical Treatment of Animals tried to ruin Canada Goose's day with protests in front of the exchange, noted Bloomberg.

CNBC reported the Toronto-based Canada Goose had priced its initial public offering of 20 million shares at $17 Canadian currency or about $12.78, according to a source familiar with the matter, above the expected range of from $14 and $16 in Canadian currency.

The stocks was at $16.95 going into Friday, said MarketWatch.

"There is opportunity in everything," Canada Goose chief executive Dani Reiss told CNBC Thursday. "(Canada Goose) has tremendous geographical opportunities," including in Europe and in Asia."

The company, best known for its $900 parkas, was concerned enough about animal rights activists that they listed the protest as a potential risk in its prospectus to potential investors, said Bloomberg.

"We have been the target of activists in the past, and may continue to be in the future," Canada Goose filing said. "Protestors can disrupt sales at our stores, or use social media or other campaigns to sway public opinion against our products. If any such activists are successful at either of these our sales and results of operations may be adversely affected."

PETA told CNBC it planned to purchase about $4,000 worth of shares in the company, which would allow it to submit a letter to shareholders and attend the annual shareholder meeting. The group had bought 230 shares of Canada Goose stock as of Thursday.

"Every fur-trimmed Canada Goose coat represents the terrifying and painful death of a coyote that was trapped, strangled, shot, stomped on, or bludgeoned," said PETA executive vice president Tracy Reiman.

"PETA is calling on consumers to reject Canada Goose's cruelty to coyotes and geese and to invest in kindness by buying vegan clothing instead," Reiman continued.

Reiss told Bloomberg the company has not been affected by any of PETA's activities so far.

"We have not experienced any decline in sales with regards to any of the activity," Reiss told Bloomberg Thursday. "We do recognize whether to wear fur or not is a personal choice."

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Canada Goose's IPO was a big hit on the New York Stock Exchange on Thursday, as the coat company saw its initial public offering jump more than 25 percent, raising some $256 million in morning trading.
canada, goose, ipo
390
2017-29-17
Friday, 17 Mar 2017 08:29 AM
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