Cabela's IPO

By: Assocaited Press
By: Assocaited Press

Sidney based Outdoor gear marketer Cabela's plans to sell its stock to the public for the first time but timing and size of the planned sale have not yet been announced.

In papers filed with the Securities and Exchange Commission, Cabela's says it expects the initial public offering to raise $230 million. It would use the money to open new stores.

Cabela's shares would trade on the New York Stock Exchange under the symbol CAB.

The filing says Cabel's had $51 million in net income in fiscal 2003 on $1.4 billion in revenue in fiscal 2003.

Cabela's has two stores in Nebraska, two in Minnesota, and one in South Dakota, Wisconsin, Michigan, Kansas and Pennsylvania. A 10th store is set to open later this year in Wheeling, West Virginia.

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