Guitar legend Fender tunes up for £126m float
The maker of the legendary Fender guitar, plucked (and in some cases destroyed) by the likes of Jimi Hendrix and Eric Clapton, has filed formal plans to raise up to $200m (£126m) by floating in New York.
The company, best-known for its Stratocaster, was set up by Leo Fender just after the Second World War and was the first to mass-produce a Spanish-style electric guitar with a solid, rather than a hollow, body to help reduce distortion and feedback. Fender will use the proceeds to pay off about $100m of its debts and expand internationally.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies