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News > Deals
B&N plans GameStop IPO
August 23, 2001: 1:13 p.m. ET

Barnes & Noble video game business to go public; SEC filing imminent
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NEW YORK (CNNfn) - Barnes & Noble Inc. announced plans Thursday for an initial public offering of its video game unit, GameStop.

New York-based Barnes & Noble (BKS: up $1.42 to $42.18, Research, Estimates) plans to file a registration statement either Friday or next Monday, a spokeswoman told CNNfn.com. The road show for the offering will begin in early fall, with the IPO expected sometime in the fourth quarter.

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The bookseller declined to name underwriters, saying they will be revealed in the registration statement.

GameStop, formerly known as Babbage's, sells video games and software through 900 stores. Barnes & Noble bought the business in 1999 from a group led by Barnes & Noble CEO Leonard Riggio

Barnes & Noble cited the strong performance of GameStop, which reported Thursday that sales rose nearly 63 percent to $206.8 million in the second quarter. A portion of the proceeds will go to reducing inter-company debt and the rest to capitalize GameStop for the future, the company said. graphic

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