Acushnet, the maker of Titleist golf balls, and other golf equipment and apparel, is set to make an initial public offering of its stock next week, according to a Boston Globe report.
The report notes that the stock, which will use the ticker symbol GOLF on the New York Stock Exchange, will estimate the company's value at around $1.7 billion. The company will reportedly sell 19.3 million shares at a price between $21 and $24, a combination that would yield investors approximately $435 million.
Talks of an Acushnet IPO have circled for months, though details about the offering were not yet available. The Massachusetts-based company, which has been owned since 2011 by a group led by Fila Korea Ltd., also manufactures FootJoy golf wear and reportedly employs 5,200 people worldwide.
According to federal filings, Acushnet posted a $966,000 net loss in 2015 while overall sales increased 2 percent to $1.5 billion.