• METALICUS: PAS GROUP label.
    METALICUS: PAS GROUP label.
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The retail powerhouse behind Review and Metalicus has reportedly raised $120 million in an initial public offering.

Media reports claim PAS Group has sold 104.3 million shares at $1.15 each or 8.9 times forecast 2015 earnings.

The retailer and wholesaler sold most shares to individual investors and the rest to fund managers.

A prospectus will be lodged tomorrow and the shares are scheduled to commence trading on the ASX on June 18.

Current owners Propel Investments, Macquarie Private Equity and State Super will reportedly retain a stake of 15 per cent of PAS Group after the listing.

PAS Group operates 220 stores in Australia and New Zealand, with plans to have 340 outlets by 2017.

The company was established in 2004, with brands including Review, Metalicus, Black Pepper, Breakaway, Marco Polo and Yarra Trail.

PAS Group also operates DesignWorks, which has licensed brands including Everlast, Slazenger, Fred Bare, Mooks and No Fear.

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