The DTC-focused women's fashion brand Reformation (REF.US) has set its US IPO price at $15, at the lower end of the price range.

According to Zhihui Finance APP, Reformation, a US women's clothing brand that has focused on DTC (direct-to-consumer) operations in recent years and owns 70 stores, plans to issue 14.1 million shares at a price of $15 per share. It is expected to raise $211 million in the US stock market, with the offering price at the lower end of the $15 to $17 price range. Based on the offering price, the company's fully diluted market value is $973 million.