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THE INVESTOR] Fila Korea will defend its management rights in Acushnet by increasing its stake up to 50 percent before the US golf equipment manufacturer goes public this month, according to news reports on Oct. 19.
With 33.1 percent stake, it currently is the largest shareholder of Acushnet, the world’s largest golf equipment and apparel company that owns Titleist and FootJoy.
Acushnet will offer 19.3 million shares to the public, to raise up to US$463.2 million, and its total post-IPO market value will reach US$1.78 billion.
The South Korean apparel company has taken over the entire stake of Acushnet with financial investors for US$1.23 billion in 2011. When the subscription price is determined, Fila Korea will acquire approximately one-third of their combined 66.5 percent stake.
By Hwang You-mee (
glamazon@heraldcorp.com)
