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Amer Sports’ IPO falls below target

By Rachel Douglass


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Arc'teryx parent Amer Sports files for IPO Credits: Grailed x Arc'teryx

Amer Sports, the owner of Arc’teryx, Wilson and Salomon, has raised 1.3 billion dollars in its NYSE initial public offering (IPO), falling short of its target with 100 million shares priced at 13 dollars each.

This came far below the expectations of the company, which initially forecasted the IPO price to be between 16 and 18 dollars per share when the offering was first launched on January 22.

Three members of the investment consortium that had acquired the company in 2019 were among those that had agreed to buy shares, an SEC filing stated.

While Anata and Anamered Investments purchased 200 million dollars, Tencent Holdings agreed to buy up to 70 million dollars in shares.

Amer Sports had first filed for an IPO earlier this month, appointing Goldman Sachs & Co., BofA Securities, J.P. Morgan and Morgan Stanley as joint book-tunning managers for the proposed offering.

At the time of the announcement, the company was reported to have taken out a 1.3 billion euro loan expiring in March to finance the listing, according to the Financial Times.

Sources for the media outlet had also previously said that the goal was to raise more than one billion dollars at a valuation of 10 billion dollars, with the funding to reportedly go towards outstanding shareholder loans.

In the last year, the company’s financials have taken a hit, with widening losses over the first nine months of 2023, despite revenues seeing a sharp 30 percent increase to 3.1 billion dollars.

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