Canadian department store retailer Hudson's Bay is to list its shares on the Toronto Stock Exchange - and has filed a preliminary prospectus with the regulatory authorities in Canada for its initial public offering.

The proposed offer is being made through a syndicate led by RBC Capital Markets, BMO Capital Markets, CIBC and BofA Merrill Lynch, who will act as joint book runners.

The retailer, which operates 90 stores in Canada, acquired department store retailer Lord & Taylor earlier this year.