Titleist Parent Company Acushnet Files S-1, IPO Coming Soon
The parent company of leading golf equipment manufacturer Titleist filed its S-1 form with the SEC on Monday, preparing to be the second publicly traded golf company behind Callaway Golf Co (NYSE: ELY). The IPO is expected to value the company at nearly $2 Billion. Titleist will trade under a very fitting ticker – GOLF. JPMorgan and Morgan Stanley are leading the IPO offering.
While several analysts have been bearish on the prospects of the golf equipment industry, the golf ball market remains strong as they are considered consumable goods that need to be replaced often. Titleist has been the No. 1 ball in golf for decades.
IPO research firm Renaissance Capital estimates the IPO could raise as much as $300 million. Acushnet is owned by Korean retailer Fila Korea LTD.
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