Myer says it will offer 479.3 million to 499.5 million shares and will have a market value of between $2.28 billion and $2.77 billion after the float.
In its prospectus, released today, Melbourne-based Myer says its initial public offering (IPO) would raise between $1.94 billion and $2.34 billion.
The company will have a total 564.8 million to 585 million shares on issue after the float, including those held by the current private equity investors.
Myer said it had pro forma net debt of $392 million as of July 25, which would take the enterprise value to between $2.67 billion and $3.16 billion.
Myer said the offer to retail investors would close on October 23 while its institutional offer would close on October 29.
Trading in Myer shares is expected to begin on November 2.
Myer forecast that fiscal 2010 earnings before interest, tax, depreciation and amortisation would be $330 million and earnings per share would be between 27.3 and 28.3 cents per share.
The forward price earnings ratio would be 14.3 times to 17.3 times, Myer said.
Myer forecast it would pay a fully franked annual dividend of 20.5 cents to 21.2 cents per share
That would take the dividend yield for fiscal 2010 to between 4.3 and 5.3 per cent.
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