"Hot Debut: Amer Sports Soars 3% in Discounted US IPO Launch!"

Thursday, 1 February 2024

Tepid Debut: Amer Sports, renowned for Wilson tennis rackets, returns to public markets with a modest 3.1% increase in stock price from the discounted IPO.

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Discounted IPO: The company raises $1.37 billion by selling 105 million shares at $13 each, below the initial target range of $16 to $18.

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Valuation: Despite the discounted price, Amer Sports achieves a $6.5 billion valuation after the stock starts trading at $13.4.

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2024 IPO Rebound: U.S. IPOs are expected to rebound in 2024 after a two-year dry spell, signaling optimism for the economy.

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Diverse Portfolio: Amer Sports owns iconic sports brands like Arc'teryx and Salomon, contributing to its diverse and prestigious brand portfolio.

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Anta Sports Acquisition: China's Anta Sports acquired Amer Sports in 2019 for over $5 billion, but concerns about China's impact on growth persist.

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China Sales: Amer Sports raises caution with 19.4% of sales in China in 2023, up from 8.3% in 2022, amid potential demand fluctuations.

Trade Tensions: The company warns about trade tensions, citing key suppliers and manufacturing facilities in China that could face future tariffs.

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Olympics Boost: Amer Sports anticipates growth with the 2024 Olympics in Paris, aiming to capitalize on the event for future success.

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