KSL Capital bought ClubCorp for $1.8 billion in October 2006.
The largest owner and operator of private golf and country clubs in the United States will sell 10.9 million out of the 18 million shares in the offering, it said in a filing with the Securities and Exchange Commission earlier this month.
KSL, which will sell the remaining 7.1 million shares, will retain a 62.2 percent stake in the company after the IPO if the underwriters fully exercise their option to buy back additional shares. The IPO could raise up to $324 million.
Goldman Sachs, Jefferies and Citigroup are acting as lead underwriters for the offering.
Texas-based ClubCorp, which was founded in 1957 with one country club in Dallas, owns and operates a network of more than 150 golf and country clubs, business clubs, sports clubs and alumni clubs.
In July, it announced plans to raise up to $100 million in an IPO.
For the quarter ended Sept. 3, the company expects a net loss of about $6 million on total revenue of about $194 million, the filing showed.
The company, which intends to use proceeds from the offering to repay debt, will list its shares on the New York Stock Exchange under the symbol “MYCC”.
Aman Shah is a reporter for Reuters News in Bangalore