SRAM International Corp, the groupset and bicycle components manufacturer, has filed an initial public offering that will raise up to US$300 million.
SRAM, which recently acquired US power meter business Quarq Technology Inc, intends to use the proceeds from the offering to repay debt. The filing did not reveal how many shares SRAM planned to sell or their expected price.
Not surprisingly the company intends to list under the ticker symbol ‘SRAM”, but has not decided which exchange it intends to list on.
The Chicago, Illinois-based company told the US Securities and Exchange Commission (SEC) in a preliminary prospectus that JP Morgan, Bank of America Merrill Lynch, Morgan Stanley, among others, are underwriting the IPO.