Groupe Dynamite Inc., a Canadian retailer of women’s clothing, has hired banks for an initial public offering that’s likely to be marketed in the coming weeks, according to people familiar with the matter.
The company is working with major Canadian financial institutions and a US bank on the offering, the people said. If successful, it would provide a jolt to the stagnant Canadian IPO market, where just C$700 million ($504 million) has been raised this year, largely for financial vehicles such as exchange-traded funds, data compiled by Bloomberg show.