Amer Sports Marks Successful Debut on NYSE, Shares Climb 15%

Amer Sports Inc., known for its Wilson tennis rackets and Salomon ski boots, has made a strong start on the New York Stock Exchange. The company had a rocky start but soon saw its share price rise by more than 11%.

Transaction Snapshot

  • Deal value: $1.37 billion.
  • Deal type: Initial Public Offering (IPO).

Amer Sports, which owns popular brands like Arc’teryx, Atomic, and Louisville Slugger, saw its shares increase to a peak of $14.98, a 15% rise from the IPO price of $13. This IPO was the biggest since Birkenstock's $1.48 billion listing last year. 

Consortium members Anta Sports Products, Anamered Investments and Tencent agreed to buy shares at the offering price. Anamered is the investment firm of Chip Wilson, foudner of Lululemon Athletica.

The Anta-led consortium acquired Amer Sports for about $5.2bn in 2019, aiming to bring high-end athletic equipment to China's increasingly wealthy middle class. Anta owns brands including Louisville Slugger, Arc'teryx and Atomic. 

The overall IPO market is still uncertain, as seen by the recent lower-than-expected performance of BrightSpring Health Services' IPO. However, Amer Sports stands out with strong support from Anta Sports, a leading athletic-apparel company in China.

The company reported a net loss of about $115.6 million on a revenue of $3.05 billion for the nine months up to September 30. With offices in Helsinki, Munich, Krakow, and Shanghai, Amer Sports employs over 10,800 people worldwide.

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