Titleist, FootJoy parent company Acushnet prepares for IPO
Ever lost enough golf balls that you consider buying stock in the company that makes them?
Well, soon you will have that opportunity.
According to the Boston Globe, Acushnet, the company that brings you Titleist and FootJoy products, will hold its initial public offering sometime next week on the New York Stock Exchange. Fittingly, the stock ticker is expected to be GOLF.
The IPO is expected to raise approximately $435 million from the sale of 19.3 million shares, which would value the company at around $1.7 billion. Shares are expected to sell for between $21 and $24.
Proceeds from the stock sales will not go to the company, but instead to previous investors.
If Titleist or FootJoy aren't your preferred brands, Nike (which will still sell golf apparel) and Callaway are also publicly traded on the NYSE.