There wasn't much to celebrate about the first three months of 2015 in the IPO market. It was worst quarter for bringing companies public in more than three years, according to Renaissance Capital.
What better company to change that vibe than Party City? North America's largest party goods retailer by revenue filed paperwork Monday to list its shares on the New York Stock Exchange under the ticker symbol "PRTY."
The filing comes just days after GoDaddy (GDDY) raced around Wall Street with a strong debut of its own.
Party City plans to sell 21.9 million shares at a range of $15 to $17 a piece. Including shares the IPO underwriters can purchase, the total deal could raise up to $428 million and value the retail chain at nearly $2 billion. They have not set a date yet for the IPO.
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Rapid expansion plans: Founded in 1947, Party City is a major player in the $10 billion retail party goods industry that draws the biggest traffic during special occasions like Halloween, Fourth of July, New Year's Eve and the Super Bowl.
Party City has 900 locations. In addition to its namesake brand, the company also owns Halloween City, Factory Card Party Outlet and Party Packagers. It's the largest global maker of decorated party supplies by revenue, with products in more than 40,000 retail outlets around the world.
But Party City thinks the party has more room to grow. The company plans to rapidly expand its retail store base, opening another 350 locations in http://www.instyle.com/fashion North America and pushing into more international markets.
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The DIY industry should give the IPO world a boost next week, too. That's when Etsy, the online marketplace for homemade crafts, is likely to go public. Etsy plans to raise up to $267 million in the offering and list its shares on the Nasdaq under the ticker symbol "ETSY."
Related: How Etsy's IPO could save cities
CNNMoney (New York) April 6, 2015: 12:20 PM ET
