South Korea's stock exchange last week gave the green light to FILA Korea Ltd.'s move to list its shares on Seoul's main exchange. The company will sell 3.25 million shares in its initial public offering (IPO) in September and list its 8.6 million shares, the Korea Exchange said.
FILA Korea earned 17.2 billion won (U.S. $14.2 million) in 2009 on sales of 357.4 billion won (U.S. $296 million), the KRX said. Samsung Securities will be the lead manager for the IPO.
At the same time, the United Kingdom's Independent newspaper reported that Barclays Ventures is looking to sell Fila Europe. Barclays Ventures, a private equity division within Barclays Capital, is currently being wound down by the bank. Barclays Ventures bought Fila Europe for €86 million ($105 million) in 2008 from U.S. hedge fund Cerberus, which carved the company into three separate geographies.
