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Report: Topgolf hires banks for potential $4B IPO

Topgolf International Inc. has hired banks to help set up a potential IPO that could value the company at about $4 billion, Bloomberg News reported Jan. 6, citing anonymous sources.

The Dallas-based leisure facilities operator is reportedly working with banks including Morgan Stanley, JPMorgan Chase & Co. and Bank of America Corp. on an IPO that could take place as soon as this year, according to the report.

The company, which operates driving ranges in the U.S., the U.K. and Australia, has $525 million in outstanding debt, Bloomberg reported. Topgolf reportedly plans to open locations in Canada, Mexico and the United Arab Emirates. Its investors include sporting goods company Callaway Golf Co. and buyout firm Providence Equity Partners LLC.

Topgolf, Morgan Stanley, JPMorgan and Bank of America did not immediately respond to S&P Global Market Intelligence's requests for comment.