By Chris Wack
Amer Sports is launching its initial public offering of 100 million shares, which are expected to price at $16 to $18 a share.
In connection with the offering, the company, which is a global group of sports and outdoor brands, has granted the underwriters a 30-day option to buy up to an additional 15 million shares to cover over-allotments.
The shares will trade on the New York Stock Exchange under the symbol AS.
Amer Sports was acquired by a Chinese consortium for about $5 billion in 2019.
The company owns sports brands Arc’teryx, Salomon, Wilson, Peak Performance and Atomic.
Amer Sports reported 2022 revenue of $3.55 billion, up from $2.4 billion in 2020, with a compound annual growth rate of 20.4%.
Write to Chris Wack at [email protected]
Read the full article here
