:max_bytes(150000):strip_icc()/GettyImages-1326261258-0a691af6c1984b7a8cfac17653677109.jpg "Amer Sports, Maker of Wilson Tennis Rackets & Louisville Slugger Baseball Bats, Plans IPO")
Key Takeaways
- Amer Sports, the maker of Wilson tennis rackets, Louisville Slugger baseball bats and other sports equipment, announced its planned IPO in the U.S.
- The Helsinki-based company expects to sell 100 million shares at between $16 and $18 each.
- Pricing the offering at the top end of the range would value Amer Sports at about $8.7 billion, according to data compiled by Bloomberg.
Sports equipment manufacturer Amer Sports on Monday announced a planned U.S. initial public offering (IPO) that could raise $1.8 billion based on the expected pricing per share.
The maker of Wilson tennis rackets, Louisville Slugger baseball bats, Atomic skis and other equipment said it would offer 100 million shares, with underwriters receiving a 30-day option to purchase 15 million more. Amer Sports noted that the shares are expected to be priced at between $16 and $18 each.
Pricing the offering at the top end of the range would value Amer Sports at about $8.7 billion, according to data compiled by Bloomberg.
The Helsinki-based firm added that it has been approved to list the stock on the New York Stock Exchange (NYSE) under the ticker symbol “AS.” It did not indicate when the IPO would take place, although Reuters reported earlier that it would happen by the end of the month.
Amer Sports had filed an F-1 registration statement for the proposed IPO with the Securities and Exchange Commission (SEC) on January 4.
The company said that it has more than 10,800 employees worldwide, operations in 41 countries, and sells its products in excess of 100 countries. It noted that its 2022 revenue was $3.5 billion.