Wilson Tennis Rackets Maker Amer Sports Eyes Up to $8.7 Billion Valuation in US IPO

By Jace Dela Cruz

Jan 23, 2024 12:30 AM EST

Amer Sports, the maker of Wilson tennis rackets, said Monday it is targeting an up to $8.7 billion valuation for its upcoming US initial public offering (IPO).

According to CNBC, it is a move towards a listing that could test investor appetite for highly valued companies.

Day Three: The Championships - Wimbledon 2021
(Photo : Clive Brunskill/Getty Images)
LONDON, ENGLAND - JUNE 30: A detailed view of the Wilson racquet bag of Kei Nishikori of Japan seen at the side of the court in his Men's Singles First Round match against Alexei Popyrin of Australia during Day Three of The Championships - Wimbledon 2021 at All England Lawn Tennis and Croquet Club on June 30, 2021 in London, England.

Amer Sports' Sale of 100 Million Shares 

Amer Sports is home to the globally recognized Wilson brand associated with sporting legends like Roger Federer, Russell Wilson, and Jamal Murray. 

On Monday, the company said it would sell 100 million shares of its common stock between $16 and $18 each to raise up to $1.8 billion in its IPO.

So far, 643 Grand Slam title winners are using the Wilson tennis racket, adding a storied legacy to Amer Sports. Founded dating back to 1950, the company operates in three segments and 

handles iconic sports and outdoor brands, including Salomon, Arc'teryx, Atomic, and Peak Performance. The anticipated New York Stock Exchange listing would be under the symbol "AS," according to the company's plan.

READ ALSO: Reddit Aims to Launch IPO in March With $10 Billion Valuation: Report 

Investors and Underwriters of Amer Sports

The company said its current investors, namely Anta Sports, Anamered Investments, and Tencent Holdings, have expressed interest in acquiring up to $510 million worth of shares at the IPO price. That reinforces confidence in the company's potential and underscores the commitment of existing stakeholders.

The lead underwriters for Amer Sports' offering are Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, BofA Securities, and UBS Investment Bank.

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