News Summary: Neiman Marcus plans IPO
News Summary: Upscale department store Neiman Marcus returning to the stock market with IPO
NEW YORK (AP) -- BACK TO THE STOCK MARKET: Luxury retailer Neiman Marcus plans to raise up to $100 million by returning to the market with an initial public offering of stock.
THE BACKGROUND: Private equity firms TPG Capital and Warburg Pincus took Neiman Marcus private for $5.1 billion about eight years ago.
PROCEEDS: The Dallas-based company says it won't receive any proceeds from the offering. Current stockholders will be selling shares.
