Amer Sports, the parent company of the ancestral bird, will set the IPO price at the end of the month, aiming to raise $1 billion in financing.
Sporting goods manufacturer Amer Sports, known for its Wilson tennis rackets, plans to conduct its first initial public offering (IPO) in the United States by the end of January, with a financing amount of $1 billion. The company aims to raise $1 billion, valuing the company at $10 billion. Amer Sports owns major brands such as Arc'teryx, Salomon, Atomic, and Peak Performance. The IPO will publicly disclose its financial statements and begin trading at the end of this month. This IPO is expected to be one of the largest in the world.
Zhitong App has learned from two informed sources that Amer Sports, the manufacturer of Wilson tennis rackets, plans to price its $1 billion US initial public offering (IPO) before the end of January. This will be the first large-scale new stock issuance in 2024. According to one of the sources, the company's goal is to raise $1 billion, bringing its valuation to $10 billion.
Earlier this month, Amer Sports submitted its prospectus before the start of trading. The sources added that Amer Sports, which owns major brands such as Arc'teryx, Salomon, Atomic, and Peak Performance, plans to publicly disclose its IPO accounts and begin trading at the end of this month. They stated that preliminary meetings with investors have already taken place before the official roadshow. After being privatized in 2019 following the acquisition led by ANTA SPORTS (02020), which valued the company at over $5 billion, Amer Sports is now seeking to go public.
Wilson tennis rackets are the brand with the highest market share in the international market and have been in existence for over a century since their establishment in 1914. In March 1914, the predecessor of Wilson, Ashland Manufacturing Company, was established, initially producing surgical sutures, low-end tennis rackets, tennis strings, and two models of baseball shoes. Now, Wilson is the world's best-selling tennis racket brand, with a dazzling product line that covers the entire range from low-end to high-end.
This $1 billion IPO financing will become the largest IPO in the world after the shoemaker Birkenstock (BIRK.US) raised $1.48 billion last October, according to Dealogic data.
Documents submitted by the company to regulatory authorities show that in the nine months ending September 30, 2023, the company's revenue was $3.05 billion, compared to $2.35 billion in the same period last year. The documents also show that the Chinese market currently accounts for 19.4% of the company's revenue for the same period, up from 8.3% in 2020.