The Container Store completes IPO, celebrates NYSE debut
Susan Dickenson -- Home Accents Today, 11/1/2013 9:29:38 AM
The Container Store Group, Inc. visited the New York Stock Exchange today, Friday, Nov. 1, to celebrate the company's completion of its initial public offering and first day of trading. The Container Store will begin trading on the NYSE today under the ticker symbol "TCS."
The company announced yesterday the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $18 per share, above the expected range of $14 to $16. The stock nearly doubled its price at the open, trading for $35 per share.
The NYSE opening bell was rung by Kip Tindell, chairman and chief executive officer, and members of The Container Store's leadership team including Melissa Reiff, president, Sharon Tindell, chief merchandising officer and Jodi Taylor, chief financial officer.
More than 100 employees, vendors, family and friends of the retailer joined the group on the trading floor. The celebration was webcast live to The Container Store employees at headquarters, its 63 store locations throughout the U.S. and at Elfa in Sweden.
The company plans to bring the excitement of the NYSE bell ringing to store locations in New York, Dallas, Chicago and Los Angeles via green screen photo booths allowing Container Store employees and the public the opportunity to have their personal "NYSE bell podium" photos celebrating The Container Store's IPO day.
The celebration extends outside the NYSE building where a large Contain Yourself! banner adorns the NYSE façade along with the retailer's "Contain Yourself" shopping bags floating in front of the NYSE. The Container Store's ticker symbol, TCS, constructed of blue dairy crates, white cylinder trash cans and platinum elfa mesh drawers, will also be on display beneath the NYSE façade.
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