INTERNATIONAL

Adidas to Go Public: The German athletic shoe and sportswear company announced an initial public offering for later this year. It would value Adidas at between $1.68 billion and $2.35 billion, sources told Reuters, and involve 40% to 50% of the company’s stock, raising an estimated $672 million to retire debt and expand the company. Shares will be listed on the Frankfurt stock exchange. It also intends to offer shares in the United States, but details are not final. Adidas showed further evidence of a recovery with its report of a 134% rise in first-half profit, to $88 million, extending 1994’s record profit. Revenue during the period rose 10% to $1.18 billion, despite a weak dollar’s hampering sales, the company said.