Party City to try going public, again

Party supply store Party City, will try and go public with a public offering that could be worth as much as $500 million, reports the New York Times.

Read: IPOs pick up steam

How many shares of the company will be sold, and how much capital owners would like to raise on the market, isn’t yet public knowledge.

The company first attempted to go public in 2011, to raise up to $350 million. That bid ended when private equity firm Thomas H. Lee Partners bought a 70% stake in the company in 2012, reports the Times.

Party City had $1.3 billion in revenue and $52 million in losses between between January 1, 2013 and Sept. 30.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.