09:00 AM EST, 11/15/2024 (MT Newswires) -- Groupe Dynamite Inc. is poised to awaken Canada's long-dormant initial public offering market after an 18-month dry spell, in what bankers are calling a cunningly timed offering that is expected to be the country's biggest debut in nearly three years, Bloomberg reported.

Dynamite, a retailer of women's clothing, aims to raise C$300 million ($214 million) in a deal that would value the company -- majority owned by Chief Executive Officer Andrew Lutfy -- at C$2.3 billion.

Its IPO would be the largest in Canada since Bausch + Lomb Corp. ( BLCO ) raised C$889.3 million in January 2022. It's expected to help the Toronto Stock Exchange, which hasn't seen a corporate IPO since Lithium Royalty Corp. raised C$150 million in February 2023.

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