That’s right. According to Market Watch, the luxury department store recently filed registration papers for an initial public offering. If all goes as planned, the IPO will raise an additional $100 million. For whom you ask?
Find out who would get the dough after the break.
Neimans says it won’t see a red cent of the cash because its the shareholders who are selling the stocks. We’re not sure if we completely believe that. The company was bought for $5.1 billion in 2005 private equity owners TPG and Warburg Pincus . The two firms planned to sell the company in 2010, but the recession (that’s apparently ending) fucked that up. Now that they are basically selling portions of their $5.1 billion investment they want us to believe they aren’t trying to recover any cash? Yeah right.