September 14, 2017 7:49 am
Updated: September 14, 2017 7:52 am

Iconic Canadian retailer Roots set to go public after filing for IPO

A Roots store pictured in Toronto's Yorkville neighbourhood.

Fred Lum/The Globe and Mail via The Canadian Press
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TORONTO – Canadian retailer Roots Corp. is launching an initial public offering of its shares.

The company has applied to list on the Toronto Stock Exchange under the symbol ROOT.

The price the shares will be issued at was not immediately disclosed.

READ MORE: New owners will stick to Roots as retail battles heats up

The retailer was established in 1973 by founders Michael Budman and Don Green.

The pair sold a majority stake in the company to private investment firm Searchlight Capital Partners in 2015, but remained substantial shareholders.

The company has more than 100 stores in Canada as well as four in the United States, partner-operated locations in Taiwan and China and an online retail business.

© 2017 The Canadian Press

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