J.Jill, a women's apparel and accessories retailer with 275 stores, announced terms for its IPO on Monday.
The Quincy, MA-based company plans to raise $175 million by offering 11.7 million shares (100% insider) at a price range of $14 to $16. At the midpoint of the proposed range, J.Jill would command a fully diluted market value of $656 million and an enterprise value of $918 million.
J.Jill was founded in 1959 and booked $617 million in sales for the 12 months ended October 31, 2016. It plans to list on the NYSE under the symbol JILL. BofA Merrill Lynch, Morgan Stanley, Jefferies, Deutsche Bank, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of March 6, 2017.
