Amer Sports, which sells apparel and sports gear under brands like Arc'teryx, Salomon, and Wilson, announced terms for its IPO on Monday.
The Helsinki, Finland-based company plans to raise $1.7 billion by offering 100 million shares at a price range of $16 to $18. Existing shareholders intend to purchase $510 million worth of shares in the offering (30% of the deal). At the midpoint of the proposed range, Amer Sports would command a fully diluted market value of $8.3 billion.
Amer Sports offers a portfolio of sports and outdoor brands across three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports. Its core brands include Arc'teryx, Salomon, and Wilson. Across these three brands, Amer's global owned retail network comprises 261 owned retail stores as of September 30, 2023. Other brands include Peak Performance, Atomic, Armada, DeMarini, and Louisville Slugger.
Amer Sports was previously listed on the Nasdaq Helsinki until 2019, when it was acquired by an investor consortium led by China-based ANTA Sports.
Amer Sports was founded in 1950 and booked $4.3 billion in sales for the 12 months ended September 30, 2023. It plans to list on the NYSE under the symbol AS. Goldman Sachs, BofA Securities, J.P. Morgan, Morgan Stanley, Citi, UBS Investment Bank, Baird, BNP Paribas, CICC, CLSA, Evercore ISI, TD Cowen, Wells Fargo Securities, Deutsche Bank, and HSBC are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2024.
