South Korea's stock exchange gave the green light Thursday to FILA Korea Ltd.'s move to list its shares on Seoul's main bourse. The company will sell 3.25 million shares in its initial public offering (IPO) in September and list its 8.567 million shares, the Korea Exchange (KRX) said.
FILA Korea booked 17.2 billion won (U.S. $14.2 million) in net profit in 2009 on sales of 357.4 billion won (U.S. $296 million), the KRX said. Samsung Securities Co. will be the lead manager for the IPO, it said.
At the same time, the United Kingdom's Independent 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 in 2008 from U.S. hedge fund
Cerberus which carved the company into three separate geographies.
