(Reuters) – Private equity-backed retailer Toys R Us [TOY.UL] on Friday filed for an initial public offering worth up to $800 million, according to a regulatory filing.
The company said it would use proceeds from the offering mainly to repay debt. It did not say how many shares it plans to sell or provide an expected price range.
An IPO by the Wayne, New Jersey-based retailer of toys and juvenile products has been long expected and sources told Reuters last month that the retailer was being considered for an IPO.
The company posted net sales of $13.6 billion for the fiscal year ended January 2010, down 1 percent from $13.7 billion a year earlier. It posted a net gain of $304 million, up 44 percent from the year-ago period.
The underwriters for the offering are led by Goldman Sachs, JPMorgan, BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, Citi and Wells Fargo Securities.
The company is expected to trade on the New York Stock Exchange under the symbol “TOYS,” the filing said. (Reporting by Supantha Mukherjee in Bangalore; Editing by Gopakumar Warrier)