lululemon athletica inc.s initial public offering of 18.2 million shares of common stock has been priced at $18.00 per share. The shares were trading on the Nasdaq Global Select Market under the symbol LULUV and on the Toronto Stock Exchange under the symbol LLL on Friday. Because the expected closing date for the offering is not until August 2, 2007, shares will trade on Nasdaq under the symbol LULUV, and then after that date change to LULU. Of the 18,200,000 shares being offered, 2,290,909 are being offered by lululemon athletica inc. and 15,909,091 are being offered by selling stockholders. The underwriters have the option to purchase up to an additional 2,730,000 shares from certain of the selling stockholders.
After trading closed on Friday, LULUV shares were up $10.00, or 55.6% to $28.00.
Goldman, Sachs & Co. and Merrill Lynch & Co. are serving as joint book runners with Credit Suisse, UBS Investment Bank, William Blair & Company, CIBC World Markets, Wachovia Securities and Thomas Weisel Partners LLC serving as co-managers for the offering.
