Australian department store giant Myer Ltd., has ended its Initial Public Offering with a per share issue price of $4.10. Based on this, analysts have estimated that nearly $2 Billion in equity will be raised by the firm. If reports are to be believed, the management and Myer family will hold another $400 Million in equity.

Under the IPO, Myer was offering somewhere between 479.3 million and 499.5 shares, and it has been estimated that when the offer is closed, the company will have 564.8 million to 585 million share in issue.

Final pricing and allocations will be formally announced tomorrow and the company plans to find a listed place on the Australian Securities Exchange on November 02.