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Fila Korea Plans To Up Stake To 50% In Titleist's IPO Next Week

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Fila Korea Plans To Up Stake To 50% In Titleist's IPO Next Week

Fila Korea Ltd (KRX: 081660) has announced it will increase its stake in Acushnet's upcoming IPO to 50 percent.

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.

Related Link: The State of Golf: Tiger Woods' New Venture, Titleist IPO Near

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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.

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Posted-In: Acushnet TitleistNews Financing Sports IPOs General

 

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