Going Public: Fender's IPO Set at $13 to $15

Fender Musical Instruments Corp. -- makers of the Stratocaster, the Telecaster and countless other iconic guitars, amps, effects and more -- has announced that its initial public offering (IPO) will be priced at $13 to $15 per share.

The company, the largest seller of guitars in the U.S., expects to sell 10.7 million shares -- 7.1 million to be sold by Fender and 3.5 million to be sold by Weston Presidio, a private equity firm -- a move that could raise as much as $160.7 million, according to a filing with the Securities and Exchange Commission, latimes.com reports.

With 26.4 million shares outstanding after the offering, Fender would be valued at around $395 million. The company hasn’t disclosed a date for the IPO.

Fender, which was founded by Leo Fender in 1946, hopes to take advantage of the “increasing popularity and gradual incorporation of guitar-based music in some large, emerging markets like China and India,” according to the filing.

Last year, Fender started a line of signature guitars for Indian guitarist Ehsaan Noorani. Check out the video below.

The company first filed for an offering of up to $200 million in March. Once the company goes public, Weston Presidio’s share will shrink from 43% to 17.7%.

In its last fiscal year, revenue rose 13% to $700.6 million while profit soared to $19 million, recovering from a net loss of $1.7 million in 2010, latimes.com reports.

Fender will be listed on Nasdaq as FNDR.

Will you be buying a piece of Fender? Let us know in the comments below!