Jamieson Wellness Inc., a Canadian manufacturer of natural health products, has raised $300 million in its initial public offering (IPO).
The company has priced its shares at $15.75 each, and will start trading them uder the ticker JWEL next week. The IPO gives Jamieson a market value of about $628 million.
Jamieson has pursued this IPO after last year’s inability to find a buyer. At the time, the company was looking primarily to Chinese buyers, valuing itself at $1 billion.
This move is backed by U.S. buyout firm CCMP Capital Advisors, while the share sale was led by Bank of Montreal and Royal Bank of Canada.
Jamieson’s choice to go public reflects a rebound in Canada’s IPO market, with investors looking to diversify from financial, energy, and materials stocks.
