J.Jill files registration statement for IPO

By

Obi Anyanwu

Published
Feb 12, 2017

Women’s apparel brand J.Jill announced on Friday that it has filed a registration statement for a proposed initial public offering of its common stock.

 
The brand has applied to list its common stock on the New York Stock Exchange under the ticker symbol “JILL”. The number of shares to be offered and the price range for the offering have yet to be determined.

In addition, BofA Merrill Lynch, Morgan Stanley and Jefferies, are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering, and Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are acting as joint book-running managers for the proposed offering.

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J.Jill in April 2016 selected Bank of America, Morgan Stanley and Jefferies as its underwriters. A source told Reuters that the brand could raise $150 million in an offering, which would increase its value to $750 million or $800 million.
 
Founded in 1959 by Karl and Marianne Lipsky, J. Jill offers apparel, accessories and footwear for women. The brand is named after Karl and Marianne’s daughters, Jennifer and Jill. Golden Gate Capital acquired J.Jill for $75 million in 2009, and the brand was later sold to private equity firm TowerBrook Capital.
 
The Quincy, Massachusetts-based brand operates around 260 stores in the US.