Wheeled-Shoe Maker Heelys Files for IPO

Heelys Inc., a novelty shoemaker that has equipped thousands of kids around the world with wheeled sneakers, filed Friday to raise as much as $115 million in an initial share sale.

The Carrollton, Texas-based company’s lead product features a removable wheel in the sole, allowing wearers to switch from walking or running to skating by shifting weight to their heels.

The number of shares and the price range of Heelys’ initial public offering weren’t given in a filing with the Securities and Exchange Commission.