Toy maker Spin Master set to go public and raise $200 million

Toronto-based plastic toy maker Spin Master Ltd. is planning to go public and hopes to raise more than $200 million.

As reported in the Financial Post, the offering is being made through a syndicate of underwriters including RBC Capital Markets and TD Securities as co-lead underwriters, and included a number of other banks as joint bookrunners.

The offering is expected to close on July 30, 2015, subject to customary closing conditions. Spin Master has received conditional listing approval for the listing of its subordinate voting shares on the Toronto Stock Exchange under the symbol “TOY”, subject to Spin Master fulfilling all of the listing requirements of the TSX.

The company sells its 69 different products in four major product groups: remote control and interactive characters; boys action and high-tech construction; activities games and puzzles; and pre-school and girls. Air Hogs and Zoomer Dino are among its main brand names.

Spin Master says it is the fifth-largest toy company in the U.S., with a market share of 2.8% — about one-eighth of that held by the industry leader Mattel. The company has three main offices — Toronto, Los Angeles and Hong Kong — as well a series of smaller offices in Europe, Asia and Mexico.