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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.

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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