Liquor Stores Income Fund has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with a proposed initial public offering.
The fund will hold approximately a 50% interest in Liquor Stores Limited Partnership (“Liquor Stores LP”), which will acquire, own and operate the 50 liquor stores currently operated by Liquor Depot Corp. and Liquor World Group Inc.
Both Liquor World and Liquor Depot have been in operation since shortly after the privatization of retail liquor distribution in Alberta. Liquor Depot opened its first store in December 1993 and Liquor World opened its first store in January 1994.
Upon completion of the offering, Liquor Stores LP will be the largest liquor store retailer in Alberta by number of stores and the second largest by revenue.
Liquor Stores LP will own and operate 49 stores in Alberta and one store in British Columbia, a market that Liquor Depot recently entered. Alberta is the only province in Canada with a fully privatized retail liquor industry.
The underwriting syndicate for the offering is led by RBC Capital Markets and includes TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc. and Raymond James Ltd.
Liquor stores to become income trust
Liquor Stores Income Fund files preliminary prospectus
- By: IE Staff
- August 17, 2004 August 17, 2004
- 16:10