SRAM Targets $300 Million Raise in IPO
According to a story in the Chicago Tribune, SRAM International Corp. filed Tuesday to raise $300 million in an initial public offering of stock. The figure is made in order to determine fees and meet SEC requirements, but SRAM has not disclosed how many shares will be sold or what the share price will be.
SRAM said it had sales of $524.3 million and net income of $50 million in 2010. They’re planning on using the ticker symbol “SRAM”. SRAM owns the Avid, Rockshox, Truvativ, Sachs and Zipp brands in addition to its eponymous component company.
Comments
I’ll totally put some SRAM in my IRA. When’s the IPO?
it is time to cash out for the founders and the investors. In 12 months the stock will be a penny stock.
I am sure most of the money raised will be used to finally pay off the large debt SRAM has. I too, wonder how SRAM will perform on the stock market.
Sad, but true.
large debt? what large debt?