MELBOURNE: Myer has revealed its opening share price ahead of becoming a listed company on Monday.
Following its initial public offering, the department store group will have approximately 581 million shares on issue with the price set at $4.10 per share.
Based on this price, Myer will have a market capitalisation of approximately $2.4 billion and an enterprise value of $2.8 billion.
Myer chairman Howard McDonald said he was pleased with the success of the offer.
"We are very pleased with the quality of the register, and I am particularly delighted that so many of our customers and 9,000 employees are now shareholders," he said. "Since announcing our intention to list, more than 76,000 people have joined the Myer one program."
Approximately 50 per cent of the shares on issue will be held by retail investors.
Myer also reported that its CEO Bernie Brookes has signed a further three year contract to lead the business through its next phase.
The company is scheduled to be listed on the Australian Securities Exchange on Monday November 2 at 12pm.