Academy Sports and Outdoors looks to score with IPO
Chain expects to benefit from the new shift to recreational activities
Academy Sports and Outdoors Inc, owned by U.S. private equity firm KKR & Co , has filed for an initial public offering in the United States, making it the latest firm to cash in on the stunning recovery in capital markets from the COVID-19 pandemic.
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The company intends to list its shares on the Nasdaq under the symbol "ASO".
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KKR | KKR & CO. | 93.35 | -1.28 | -1.35% |
Academy Sports, which KKR bought in 2011, has 259 stores across the United States that sell sporting equipment including footwear, apparel as well as products like tents, and bicycles.
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The company’s net sales rose nearly 1% to $4.8 billion in 2019 from a year earlier.
Academy Sports said on Wednesday it expects to benefit from the shift to recreational activities.