Sterling Shoes Income Fund floats trust units - leatherbiz: Leading ne Leatherbiz

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Sterling Shoes Income Fund floats trust units

14/07/2005

Sterling Shoes Income Fund (SSIF) has announced a successful completion of its initial public offering of 5,313,488 income trust units at a purchase price of $10.00 per unit, for gross proceeds of $53,134,880. Units of the fund are now trading on the Toronto Stock Exchange under the symbol "SSI.UN".

 

Sterling Shoes is a Vancouver-based independent footwear retailer offering a selection of private label and brand name shoes and accessories across five Canadian provinces through its separate retail banners: Sterling, Joneve, Shoe Warehouse and Freedman's. It currently employs over 650 employees and its sales for the 12 month period ended April 30, 2005 were $73.3 million.

 


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