Five Below IPO watch: U.S. specialty retailer Five Below announced its IPO price range of $12-$14. In accordance with the median of Five Below IPO price range, the company’s market capitalization will reach $710 million. The company plans to issue 960 million shares (50% by selling shareholders) to raise about $125 million and has applied to list its common shares on the Nasdaq under the symbol “FIVE.” Also read the old article: Five Below IPO price range is raised to $15-$17.
Also read the update: Five Below IPO priced at $17, shares shot up.
Five Below was founded in 2002, is a U.S. $5 retail chain operator focusing on children; all goods of Five Below are sold at $1-$5, the company has opened 199 stores in 14 states, each store has an area of approximately 7500 square feet. The company expects to open an additional of 50 stores in 2012 and expects to open at least 2,000 stores within the next 20 years.
For the fiscal year 2011, Five Below grew revenues to $297 million, up 50.76% over the previous year; gross profit increased by 57.57% to $104 million; gross margin was 35%, operating margins advanced 122%, to $2.62 million; net profit rose 128% to 16.08 million; net profit margin was 5.4%.
Goldman Sachs and Barclays are working as the representatives of the underwriters for Five Below IPO.
Read the related article: Five Below IPO prospectus summary.
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