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SBD/19/Finance
ANTIGUA SPORTSWEAR TO HAVE IPO AND TRADE ON THE NASDAQ
Published November 19, 1997
AZ-based sportswear company Antigua Group has filed
plans with the SEC to sell 3 million shares in an IPO,
according to Dawn Gilbertson of the ARIZONA REPUBLIC. While
the company would trade under the "proposed" NASDAQ symbol
ANTGF, a "projected price range was not disclosed." The
timing of the IPO "is tied to the recent sale of the company"
to Canadian-based Southamptom Enterprises. Proceeds from the
IPO, "which probably won't be completed until January, will
be used to repay debt from the acquisition." Antigua hopes
to raise $15.5M after expenses, "which indicates an expected
IPO price of about $6." After the deal, company officials
will own "about one-third" of Antigua. Gilbertson reports
that while Antigua sales have "been relatively flat the past
few years," they have been "on an upswing this year." In the
"pipeline" for Antigua is "more celebrity endorsements," as
it currently has deals with golfers Mark Brooks, Billy
Mayfair and NBC golf announcers (ARIZONA REPUBLIC, 11/19).




