Weight Watchers International has announced details of an initial public offering that could raise as much as £280m. The New York-based company said 17.4m common shares will be sold to the public for $21.00 to $23.00 per share. None of the proceeds from the offering will be received by the company - most of the shares are being sold by an investment company. The offering is expected to be completed by the end of November. The company operates in 27 countries through a network of company-owned and franchise operations. One million members attend weekly Weight Watchers meetings.
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