Former Burlington Industries President Ely Callaway, a vintner and golf-club manufacturer, is going public. Callaway Golf, whose most popular product is the high-priced, oversized Big Bertha driver, has more than doubled its sales in each of the last four years. Revenues in 1991 totaled $54 million. Callaway expects to raise more than $40 million by going public. He plans to use some of the proceeds to expand the Big Bertha line and launch an overseas sales drive. The stock's ticker symbol: ELY, of course.

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