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Hampshire Completes Citi Trends Initial Public Offering
Contact: On May 18, 2005, Citi Trends, Inc., a Hampshire Equity Partners II portfolio company completed a successful $53.9 million initial public offering. The offering priced at $14 per share, at the top end of the range. Citi Trends is a rapidly growing, value-priced retailer of urban fashion apparel and accessories for the entire family. Hampshire purchased Citi Trends in 1999 and the Company has since expanded its store base from 85 to 212 and increased its revenue from $50 million to $200 million. CIBC World Markets, Piper Jaffray, SG Cowen & Co. and Wachovia Securities managed the IPO. The stock trades on the NASDAQ under the ticker "CTRN". Hampshire sold approximately 10% of its shares and owns approximately 55% of the Company post IPO. For more information, please contact Gregory Flynn of Hampshire Equity Partners at (212) 453-1533.
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