NEW YORK (CNNMoney.com) -- Toys "R" Us is seeking to raise $800 million in stock through an initial public offering, hoping to clear some debt from its balance sheet, the company said in a securities filing Friday.
The Wayne, N.J.-based toy retailer did not say how many shares it plans to sell.
Toys "R" Us will use most of the capital raised from the offering to repay its "substantial indebtedness," the filing said. As of January 2010, the company had more than $5.2 billion in debt.
This will be the second entry into the public market for Toys "R" Us, which was bought for $6.6 billion in 2005 under pressure of slumping sales. The company was taken private by the investor group owner, which is led by Bain Capital, Kohlberg Kravis Roberts & Co, and Vornado Realty Trust.
The company wants its stock to be listed on the New York Stock Exchange under the symbol "TOYS."
The offering's underwriters include Goldman Sachs, JPMorgan, Merrill Lynch, Credit Suisse, Deutsche Bank, Citigroup and Wells Fargo.
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