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IPO marks a significant turning point for Fila brand
28
Sep '10
Fila Korea Ltd., which in March 2007 purchased the Fila brand and the global operations of the Fila business from Sports Brands International Ltd., a portfolio company of Cerberus Capital Management L.P., will complete the initial public offering of its shares on the Korean Stock Exchange (KRX) on Tuesday, September 28th.

The company will offer 3.25 million shares at an initial offering price of Korean Won 35,000. The offering is being underwritten by Samsung Securities Company. The proceeds will be used to pay down the debt remaining from the 2007 acquisition and to promote further marketing activities in the United States where substantial progress has already been made over the last three years to increase the brand's visibility and market share.

According to Mr. Yoon Soo (Gene) Yoon, the Chairman of Fila Korea, “the occasion of our IPO marks a significant turning point for the Fila brand and our company.” Chairman Yoon continued, “It is only fitting that the IPO comes just a few months before the Fila brand's 100th anniversary year and we are proud and honored to continue to build on its great tradition and illustrious history.”

Fila Korea Ltd

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