Express, the sixth largest specialty retail apparel brand in the US, announced terms for its IPO on Friday. The Columbus, OH-based company plans to raise $304 million by offering 16 million shares at a price range of $18-$20. At the mid-point of the proposed range, Express will command a market value of $1.7 billion. Express, which was founded in 1980 and booked $1.7 billion in sales last year, plans to list on the under the symbol EXPR. BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal, which is expected to price the week of May 10th.
