Amer Sports Eyes Potential $1.8B US IPO, Making It Biggest Since Arm Holdings: Report

Amer Sports Inc., the company behind Wilson tennis rackets and Salomon ski boots, is reportedly contemplating a U.S. initial public offering (IPO) that could fetch as much as $1.8 billion.

As per Bloomberg’s sources-based report on Monday, the company might market approximately 100 million shares within a range of $16 to $18 each. The terms of this potential offering could be announced in the coming days.

The proposed listing is set to be the largest in the United States since semiconductor designer ARM Holdings PLC‘s ARM $5.23 billion offering in September, which had failed to deliver an expected market rebound. Since then, Arm’s shares have gained 54% from the offer price.

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Amer Sports, which is backed by China’s largest athletic apparel producer ANTA Sports Products Ltd ANPDY, owns several popular brands such as Louisville Slugger baseball bats, Arc'teryx outdoor gear, and Atomic winter equipment.

Founded in Finland, the company has expanded its owned retail footprint to include 138 Arc'teryx stores, 114 Salomon stores, and nine Wilson-owned outlets as of Sept. 30. It has also marked Greater China as a significant growth region, contributing nearly one-fifth of its total revenue in the first nine months of 2023.

The IPO is being led by Goldman Sachs Group Inc. GS, Bank of America Corp BAC, JPMorgan Chase & Co. JPM, and Morgan Stanley MS. The company plans for its shares to trade on the New York Stock Exchange under the symbol AS.

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