U.S. furniture retailer, Restoration Hardware Holdings Inc, has filed with U.S. regulators to raise up to $150 million in an initial public offering of its common stock, sister news service Reuters reported. .A source close to the company had told Reuters a year ago that the company would raise about $300 million in an IPO in the first half of this year.
In November 2007, Restoration Hardware had agreed to be taken private in a transaction led by CEO Gary Friedman and private-equity firm
BofA Merrill Lynch and Goldman Sachs are the lead underwriters for the offering, the company said in a filing with the U.S. Securities and Exchange Commission. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.
(Aditi Sharma is a correspondent for Reuters in Bangalore.)