Jamieson Wellness said to raise C$300m in Canadian IPO

[TORONTO] Jamieson Wellness Inc, the Canadian vitamin and health-products company, raised C$300 million (S$318 million) in its initial public offering, according to people familiar with the matter.

The Toronto-based company priced its shares at C$15.75 apiece, near the top of the marketed price range of C$14 to C$16 each, said the people, who asked not to be identified because the matter is private. The IPO gives it a market value of about C$628 million, based on the number of shares outstanding after the listing.

The company is expected to start trading next week in Toronto under the ticker JWEL. A representative for Jamieson wasn't immediately available for comment.

Backed by US buyout firm CCMP Capital Advisors, Jamieson is pursing an IPO after failing to find a buyer last year. The company shopped itself primarily to Chinese buyers amid a wave of consumer demand for dietary supplements in the country. Shanghai Pharmaceuticals Holdings Co. and Chinese dietary supplement maker By-health Co. were among suitors for Jamieson, which was seeking a valuation of as much as $1 billion, people familiar with the matter said at the time.

The share sale was led by Bank of Montreal and Royal Bank of Canada.

CCMP agreed to acquire Jamieson in 2014 for about C$300 million, according to data compiled by Bloomberg. The vitamin maker has corporate offices in Toronto and makes its products at facilities in Windsor, Ontario, according to its website.

BLOOMBERG