Academy Sports and Outdoors looks to score with IPO
Chain expects to benefit from the new shift to recreational activities
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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. | 162.60 | +2.47 | +1.54% |
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.