S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Companies and Brands

Tumi Sets IPO Terms, Another Luxury Goods Coming Public

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Luxury baggage maker Tumi Holdings, Inc. has set the terms for its proposed initial public offering.  The company now plans to sell 18,779,865 shares in a price range of $15 to $17 each and it is listing its shares on the New York Stock Exchange under the “TUMI” stock ticker.

The company itself is selling 17,559,248 shares of the total offering, with selling stockholders selling an additional 1,220,617 shares. Tumi plans to use the proceeds from the offering to purchase preferred shares from shareholders.

Credit Suisse, Goldman Sachs Group, and J.P.Morgan are leading the group of underwriters in this offering; William Blair and Jefferies are also in the syndicate. In 2011, Tumi’s sales were roughly $330 million and its operating income was more than $60 million.

The total number of shares being registered including the overallotment option is 21,596,845 shares.  The company will continue to be controlled by funds managed by or entities affiliated with Doughty Hanson & Co Managers Limited.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Paul Ausick |

Tumi IPO Goes Big (TUMI, SPLK)

Premium luggage maker and lifestyle brand Tumi Holdings Inc. (NYSE: TUMI) priced its IPO at $18/share, a buck above the…

Jon C. Ogg |

Four IPOs to Watch in the Coming Week (BLOX, PFPT, SPLK, TUMI)

This last week may have been riddled with mixed economic data and it may have been slow on initial public…

Jon C. Ogg |

Tumi Insiders Looking to Sell More Than $230 Million in Stock

Tumi Holdings Inc. (NYSE: TUMI) may have reported a tenfold rise in net income and it may have raised its full-year…

Paul Ausick |

The IPO Pace Speeds Up Again Following the Alibaba Show

Two IPOs scheduled for last week did not materialize, and the calendar for next week includes 11 new IPOs, meaning…

2 IPOs on Calendar for This Week
Paul Ausick |

2 IPOs on Calendar for This Week

Both initial public offerings (IPOs) scheduled for last week entered the public markets, but the results were less than exciting.…

Paul Ausick |

A Baker’s Dozen of IPOs on Tap for Next Week

So far in September, 16 IPOs have priced and four have been withdrawn. In the coming week, we are looking…

Paul Ausick |

Health Care Dominates IPO Schedule for First Week of February

Including one holdover from last week, there are 12 IPOs on the calendar for the first week of February.

Up to 8 IPOs Could Launch in the Coming Week
Paul Ausick |

Up to 8 IPOs Could Launch in the Coming Week

After markets failed to accept a single initial public offering (IPO) in January, the first week of February was a…

Paul Ausick |

5 IPOs Due to Launch in the Week of July 20

ThinkstockThe initial public offering (IPO) calendar for this week lists six companies with plans to enter the public market. Of the…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820