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Neiman Marcus files to return to public life

June 24, 2013 at 2:49 PM   |   Comments

NEW YORK, June 24 (UPI) -- U.S. luxury department store Neiman Marcus said Monday in a filing that it would return to life as a public corporation.

The company was taken private by investment firms TPG Capital and Warburg Pincus eight years ago.

In its last fiscal year, the company took in $4.3 billion in revenue and earned $140.1 million, a level it has not reached since before the December 2007 through June-2009 recession, The New York Times reported Monday.

The company's initial filing was short on details, the Times said. It did not name an initial price range or what stock exchange would carry the retailer.

It also did not say how many shares would be offered, the Times said.

Investment groups often issue new shares and sell a portion of their own, while keeping enough shares to maintain control of the company's board.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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