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Guitar maker Fender plans £200m share flotation

Fender Musical Instruments, the maker of guitars used by music greats from Jimi Hendrix to Pink Floyd's David Gilmour, has announced plans for an initial share flotation.

Fender hopes the move will raise $200m (£126m), money that it will use to reduce current debts of $246m.

The company was founded in 1946 and has had a number of owners over the years.

The BBC's Tom Esslemont reports.

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