KKR-Backed Academy Sports Files for Nasdaq Listing

(Bloomberg) -- Sporting goods retailer Academy Sports and Outdoors Inc. filed on Wednesday for a U.S. initial public offering.

The Katy, Texas-based company listed the offering size as $100 million, a placeholder amount that will likely change, according to a filing with the U.S. Securities and Exchange Commission.

Retail has been a small segment of the tech-dominated IPO market this year. Shares of grocer Albertsons Cos. are down 13% since going public in June.

Buyout firm KKR & Co. will control more than 50% of the voting rights of the company upon the listing, the filing shows.

Academy Sports reported $2.7 billion in sales in the first 26 weeks of the year, compared with $2.3 billion during the same time a year ago, the filing shows. Profit from the period jumped to $158 million from $73.8 million.

Credit Suisse Group AG, JPMorgan Chase & Co., KKR and Bank of America Corp. are leading the share sale. Academy Sports plans to list on Nasdaq Global Select Market under the symbol ASO.

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