Fender, the legendary guitar maker, wants to go public
The legendaryU.S.manufacturer of guitars Fender wants to enter the stock market in order to raise up to $ 200 million. In a paper filed Thursday with the Securities and Exchange Commission (SEC), Fender announced its intention to seek an initial public offering “as soon as possible”.
The guitar maker has “used approximately $ 100 million of revenue raised through this IPO” to repay a portion of its debts, according to instructions. The number of shares offered for sale, as the stock code “FNDR”, and prices have yet to determine.
“In 2011 we were number one in terms of market share in the USA in the field of electric guitars, acoustic, and bass, and amplifiers for electric guitars and basses” , the group said. “To maintain the advance of our brands and our products, we strive to continue to bring in the market for new and innovative products, in order to attract and retain consumers” , he added.
The company earned 700.6 million of sales during fiscal 2011. It achieved 45% of its sales outside theU.S., mainly inEurope, in 2010. Founded in 1946 by Leo Fender, Fender counted Eric Clapton, Keith Richards, George Harrison, Jimi Hendrix, Mark Knopfler and Bruce Springsteen among his followers.