US: TRU confirms flotation

The retailer has filed an initial public offering to raise up to $800 million.
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Following speculation earlier in the year, Toys R Us has said it hopes to use the money raised from the flotation to put towards its debt of $5.03 billion and for general corporate expansion.

The IPO papers did not list the total number of shares or the price per share for any potential transaction.

The papers also note that Toys R Us generated online sales of $602 million in 2009, and plans to expand its international e-commerce base.

The S1 filing stated: "In addition to our existing online presence in Canada, United Kingdom and Japan, we are planning to introduce web sites in countries where we have physical stores but lack a web presence such as Austria, France, Germany, Spain and Switzerland.

"Our global e-commerce platform also provides the potential to enter new international markets where we do not have any physical stores."


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