All Corporations articles – Page 62
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Article
Shelving IPO plans, ABG brings in two new investors
Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...
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News briefs
S&P improves Callaway's outlook to stable
Callaway Golf’s better-than-expected results have led Standard & Poor’s to upgrade its outlook for the company and its TopGolf subsidiary from negative to stable, while affirming their present credit ratings. Both S&P and Moody’s had been skeptical because of Callaway’s high debt and TopGolf’s losses. With Callaway reporting better sales ...
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News briefs
Karakoram to make snowboard bindings at a new U.S. factory
While continuing to get them made in the U.S., Karakoram, the American supplier of splitboard bindings founded by Bryce and Tyler Kloster in 2008, will move into a new factory in North Bend, Washington state, close to the mountain region around Snoqualmie Pass. The company has just come out with ...
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News briefs
StockX acquires Scout
StockX is making its first acquisition, and the target company is Scout, which has developed a the cloud-based inventory-management software topShelf. Once the deal goes through and the integration is completed, StockX will be inviting certain subscribers to use Scout’s automation, inventory management, distribution and pricing tools free of charge. ...
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News briefs
Nike raises its quarterly dividend
Despite the current supply chain challenges, Nike’s board of directors has decided to grant a quarterly cash dividend of 30.5 cents per share to its shareholder on Dec. 28, for an increase of 11 percent versus the previous quarterly dividend. Noting that this is the company’s 20th consecutive year of ...
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ArticleIndebted ManUnited to issue shares to its fans
Manchester United fired Ole Gunnar Solskjaer, the Norwegian team manager hired three years ago, after the English football club lost 4-1 against Watford on Saturday Nov. 20, its fifth defeat in the first seven matches of this season’s Premier League. The dismal score, which is infuriating the club’s fans, will ...
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News briefs
Peloton offers over $1.1 bn in new shares
With its cash flow turned negative by $522 million at the end of its September quarter, Peloton Interactive has decided to launch a secondary offering for 23.9 million Class A shares priced at $46 each to raise $1,099 million. It is also proposing an over-allotment of $150 million depending on ...
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News briefs
Intersport Spain has sold its HQ
According to CMDsport, Intersport Spain will be moving out of its headquarters in the city of Rubí, in the province of Barcelona, on Nov. 19. The buying group inaugurated the site in 1989 and has now sold it, for some $5 million, to an as yet unnamed investment fund. It ...
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Article
Alpargatas sells Osklen to Dass to develop Havaianas more widely
Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...
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News briefs
Allbirds’ IPO proceeds rise to $348 million
The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...
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News briefs
No immediate plans for Gymshark’s IPO
Indicating that Gymshark’s sales almost doubled to £400 million (€470m-$543m) in the 12 months ended in July, Ben Francis, the young co-founder and CEO of the nine-year-old British fitness apparel company, tells The Financial Times that there are no immediate plans for it to go public. He confirmed that he ...
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News briefsPuma opens new North American HQ
Puma has inaugurated new headquarters for North America. Located at Assembly Row in the Boston suburb of Somerville, the 150,000-square-foot office combines the staffs – about 450 employees – from two offices in Boston proper and Westford. It was designed by the architectural firm Gensler and built by Timberline Construction. ...
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News briefs
Coke buys sports-drink brand Bodyarmor
The Coca-Cola Company has acquired Bodyarmor, a sports drink producer founded in 2011, for approximately $5.6 billion.This is the largest acquisition in Coca-Cola’s history, overtaking that of the Costa coffee chain in 2018 for $5.1 billion. The soda king has been Bodyarmor’s second-largest shareholder, with a 15 percent stake, since ...
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ArticleExpanded: Allbirds doubles its valuation as it goes public
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...
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News briefs
Reebok’s founder gets Drapers’ Lifetime Achievement Award
Joe Foster, who founded Reebok along with his late brother Jeff in 1958, received this year’s Life Achievement Award from the British Drapers magazine, coinciding with the sale of the brand to the Authentic Brands Group. Foster stepped back in 1989, and the move made the front page of the ...
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ArticleNice Footwear is valued up to €16.5m in IPO
Nice Footwear, an Italian company specializing in the production and sourcing of sneakers, is being listed on the Euronex Growth market in Milan. The company set a price range of €9.00-€11.00 per share, valuing the company at between €13.5 million and €16.5 million, representing 4.87 to 5.95 times last year’s ...
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News briefs
Skechers may restructure its Asian business, making it worth $1.5bn
Skechers is considering various strategic options for its operations in Asia including a possible public offering on the Hong Kong Stock Exchange, says Bloomberg, quoting knowledgeable sources. An IPO could raise as much as $1.5 billion, according to the report, but Skechers would have to buy out first the shares ...
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News briefs
Out Of, the Italian sun lens start-up, gets Elite status
Out Of, a young company that recently launched the first electronic lens that adapts its tint to ambient light automatically in less than a second without using a battery, is one of 20 Italian start-ups that have joined Elite, a private market of the Italian Stock Exchange, with the support ...
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News briefs
Galaxy will buy Sequential’s active brands for $330m
Galaxy Universal announced that it has won the auction for the active brands portfolio of the bankrupt Sequential Brands Group, which includes And1, Avia, Gaiam and SPRI. The $330 million deal, which is still subject to court approval, is expected to close in mid-November. Galaxy had already made a “stalking ...
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News briefs
Li Ning raises equity by €1.16bn for international expansion and other purposes
Li Ning Company said it is planning to sell 120 million new shares worth a total of HK$10.5 billion (€1.16bn-$1.35bn) to raise funds for its international expansion, which has not been easy until now, and for investments in new product categories. The proceeds would also be used for the establishment ...
