Units of the REIT would then be sold in an initial public offering expected to be completed in mid-2013, subject to regulatory approvals. However, it is our intention to retain a significant majority interest in the REIT - over 80 per cent, Loblaw chief financial officer Sarah Davis told a conference call with analysts. While we expect to generate funds from the IPO, it is anticipated that the long-term source of capital and the structural advantage of the REIT are the real benefits, Davis added.
Details on pricing and the number of units to be offered in the IPO were not disclosed. Those details typically are determined after a preliminary prospectus is issued and underwriters gauge investor interest.
Share this article
Share this article
ResearchAndMarkets.com s offering.
Overall spending on gifts remained stable in Canada in 2020, despite economic slowdown and reduced celebrations due to lockdowns and people staying away from gatherings. The overall spending on gifts recorded a decline in 2020, with a shift towards gift cards. This has resulted in increased penetration for gift card. Gift card growth over the next 4 quarters in 2021 is expected to improve significantly with improved business and consumer sentiment.
Despite a challenging near-term outlook, the gift card industry in Canada is expected to experience steady growth over the medium term, starting Q2 2021. This will be driven by consumer confidence and retail spending in the country along with increased adoption of corporate incentive and loyalty cards.
The retailer says it saw same-store sales gains of 9 per cent in the first five weeks of the fourth quarter but that pace is ‘unlikely to be sustained’
The retailer says it saw same-store sales gains of 9 per cent in the first five weeks of the fourth quarter but that pace is ‘unlikely to be sustained’
Global Gift Card and Incentive Card Market Report 2021 - Economic Slowdown Due to COVID-19 is Changing Consumer s Gifting Pattern prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.