ClubCorp Holdings ventured with the regulators in the US to fetch more than US$100 million in an initial public offering of its stakes. ClubCorp Holdings was an operator of golf and country clubs.
The Dallas-headquartered corporation refused to say the number of stakes it planned to sell. It also did not disclose the anticipated price range of the stakes. The company applied to list its stakes on the New York Stock Exchange. However, its ticker symbol was not finalized yet.
The private equity firm associates of KSL Capital Partners that specialized in travel and leisure business purchased ClubCorp. ClubCorp owned a network of up to 150 golf and country clubs. It also owned business, sports and alumni clubs. After the IPO, KSL would still own the majority stake in the company. In 2012, ClubCorp reported a US$27.3 million loss on its US$535.3 million profit.
Goldman Sachs & Co, Jefferies and Citigroup Global Markets were all underwriting the IPO.
Join the Conversation