Golf equipment manufacturer Acushnet, parent company of Titleist, is set to launch a $1.78 billion initial public offering next week. Shares of the Acushnet IPO will be priced in the $21 to $24 range. The offering is expected to fetch a maximum of $533.5 million.
In 2011, a Korean group associated with Fila Korea along with Mirae Asset Private Equity purchased Acushnet for $1.23 billion in cash.
Fila Korea currently owns a 33.1 percent stake in Acushnet and plans to buy additional shares up to 50 percent from existing shareholders to protect its management right, according to Pulse News in Korea.
Acushnet will trade under the ticker GOLF.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.