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Guitar maker Fender to list on Nasdaq

Buddy Holly and Jimi Hendrix are among the legends to have used the firm's guitars.
Guitar maker Fender to list on Nasdaq
Renowned guitar maker Fender Musical Instruments has filed for an initial share flotation in New York.

The firm, founded in 1946 by the late Leo Fender, hopes to raise $200 million (£126 million), money that will be ploughed into the company's debts.

Fender's flagship model is the Stratocaster, which first went on sale in 1954, and its guitars have been strummed by a host of musical legends, including Buddy Holly, Jimi Hendrix and David Gilmour.

In the '50s Fender also introduced the Precision Bass guitar, which was played like a guitar and had frets.

The firm, widely regarded as the world's leading maker of guitars, basses and amplifiers, is part-owned by Weston Presidio, the US private equity house, which has a 43 per cent stake.

"The Fender brand in particular is closely associated with the birth of rock'n'roll and has a strong legacy in music and in popular culture," the company said in a filing with the Securities and Exchange Commission, the US financial authority.

Posted by LBADNFCR-2133-ID-801313957-ADNFCR Posted on 9 Mar 2012 12:01 to category : Instruments News

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