Seoul-based golf apparel brand CreaS F&C Co. will go public on South Korea’s secondary Kosdaq bourse on October 1 in hopes that its listing can help it generate stable revenue source to raise brand awareness.

According to the company on Friday, its initial public offering (IPO) price is set in the band of between 34,000 won ($30.25) to 38,200 won per share, or up to 134.4 billion won ($119.6 million) based on the top end price. Its two-day book-building session will kick off on Tuesday, and retail investors will be able to subscribe its shares on September 17-18.

“We’ll use our IPO momentum to expand the product lineup for stable growth,” said an official at the company on Friday during its IPO press conference.

CreaS F&C, founded in Korea in 1998, entered the golf apparel market in 1999 by selling golf clothing of U.S. premium golf apparel brand PING. It signed a contract with Japan’s Pearly Gates to sell its clothing in Korea in 2011.

The company also has been sponsoring Korea Ladies Professional Golf Association (KLPGA) members like Oh Ji-hyun, Lee Jeong-eun, Lee Da-yeon and Kim A Lim as part of its marketing activities. It achieved the 200 billion won sales milestone for the first time in the Korean golf apparel market, and its revenue totaled 281.1 billion won last year.

By Park Joon-hyung and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]