Fila Korea set to go public in S. Korea

SEOUL, Aug. 15 (Yonhap) -- Fila Korea Ltd., South Korea's largest sportswear
company, said Sunday that it is preparing to list its shares on the Korea
Exchange between September and October.
"We will enter the process of an initial public offering this week," said Yoon
Yoon-soo, chief executive of Fila Korea. "The process will be completed in late
September at the earliest, in early October at the latest."
Fila Korea's IPO plan has materialized three years and eight months after it took
over the global Fila brand and all its international subsidiaries from Sports
Brands International, a holding company owned by US hedge fund Cerberus Capital
Management, for US$400 million in January 2007.
Fila Korea named Samsung Securities Co., Mirae Asset Securities Co. and IBK
Investment & Securities Co. as managers to arrange its IPO.
Fila Korea said it will offer 2.25 million existing shares and 1 million new
shares via the planned IPO, adding it is setting the price range for its listing.

Shares of Fila Korea closed at 37,800 won ($31.8) on Friday on the
over-the-counter market.
ksnam@yna.co.kr
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