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Montreal-based women’s clothing retailer Groupe Dynamite Inc. says it has filed a preliminary prospectus for an initial public offering to list on the Toronto Stock Exchange.

The number of shares and offering price for the IPO have not yet been determined.

The company operates stores under both the Garage and Dynamite banners and has about 300 stores across Canada and the U.S.

A majority of its new locations since 2022 have been in the U.S. market, where the company says it plans to continue growing.

It also has plans to expand in other jurisdictions such as the U.K.

The offering is being underwritten by a syndicate led by Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc.

The company has about 6,000 employees across North America. Groupe Dynamite says all of them “will have ownership exposure subsequent to the offering, aligning their interests with those of our shareholders.”

Groupe Dynamite is nearing its 50th anniversary — it was founded in 1975, opening in Montreal’s Place Versailles.

In 2020 the company filed for creditor protection under the Companies’ Creditors Arrangement Act in order to restructure the business as a result of the COVID-19 pandemic. At the time it said it saw record performance in 2019 and was in the midst of an ambitious strategy to compete globally before the pandemic hit.

The company’s CEO is Andrew Lutfy, who has been with the company since 1982 when he started as a stock clerk at the age of 18.

This report by The Canadian Press was first published Nov. 8, 2024.

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OTTAWA – Two years after the failed launch of a lending program, Canada Post looks to be making another foray into banking services.

Based on a document posted to the Canadian Union Of Postal Workers website, the postal service will soon be launching a chequing and savings account in partnership with Koho Financial Inc.

The document, which was online for a brief time before being taken down, says Canada Post will start testing the MyMoney account this month with a national launch next year.

It says accounts will have features such as cash back, high interest and options to build or improve credit and will use a prepaid, reloadable Mastercard.

The apparent plans come after Canada Post launched a lending program with TD Bank Group in late 2022, only to shut it down weeks later because of what it said were processing issues.

Canada Post did not respond to a request to confirm the plans.

This report by The Canadian Press was first published Nov. 8, 2024.

The Canadian Press. All rights reserved.

TORONTO – Losses in the energy and base metal sectors led Canada’s main stock index lower in late-morning trading on Friday, while U.S. stock markets were mixed.

The S&P/TSX composite index was down 138.12 points at 24,707.81.

In New York, the Dow Jones industrial average was up 310.62 points at 44,039.96. The S&P 500 index was up 22.25 points at 5,995.35, while the Nasdaq composite was down 16.30 points at 19,253.16.

The Canadian dollar traded for 71.91 cents US compared with 72.12 cents US on Thursday.

The December crude oil contract was down US$2.08 at US$70.28 per barrel and the December natural gas contract was up two cents at US$2.72 per mmBTU.

The December gold contract was down US$11.70 at US$2,694.10 an ounce and the December copper contract was down 12 cents at US$4.32 a pound.

This report by The Canadian Press was first published Nov. 8, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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