PE-backed Witchery to IPO in Oz
Australia’s Gresham's Private Equity is reportedly looking to list its mid-market clothing retail asset Witchery later this year in an effort to raise A$300 million. The move comes in a market where other PE-backed IPOs of Australian companies have largely struggled as the retail market tries to recover from the recession.
According to The Australian, Witchery gauged interest from potential retail buyers, including Myer, which was held by TPG and Blum Capital until its own IPO in 2009. However, the clearest exit strategy...
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