March 4, 2011 / 1:24 AM / in 7 years

Hockey equipment maker Bauer files $77 million IPO

TORONTO (Reuters) - Bauer Performance Sports, a maker of hockey equipment in Canada for more than 80 years, said on Thursday it filed a final prospectus to raise at least C$75 million ($77 million) in an initial public stock offering.

Bauer said in a statement it would sell 10 million common shares at a prices of C$7.50 per share and net proceeds will be used to acquire a 100 percent stake in Kohlberg Sports Group Inc for an unspecified amount.

The terms of the IPO were not disclosed, but sources said in January Bauer would list a 20 percent stake on the Toronto Stock Exchange, valuing the company at some C$375 million.

Bauer is the world’s largest global supplier of hockey equipment, with a 45 percent market share globally in terms of sales in fiscal 2010.

The company was founded in Kitchener, Ontario, in 1927 and developed the first skate with a blade attached to a boot, an innovation credited with changing the game of ice hockey.

The offering is being made through a syndicate of underwriters led by RBC Capital Markets and CIBC, and includes BMO Capital Markets, Scotia Capital Inc, TD Securities Inc, and Macquarie Capital Markets Canada.

Reporting by Pav Jordan; Editing by Richard Chang

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below