Wilson racket maker Amer Sports experienced a significant surge in its stock price following its highly successful initial public offering (IPO), which raised an impressive $1.37 billion. The trading of Amer Sports Inc. shares began above the IPO price, and the stock experienced a remarkable increase of up to 6.2%, reaching $13.61 per share. This exceptional achievement has placed Amer Sports’ market value at approximately $6.6 billion, making it the largest IPO since Birkenstock Holding Plc’s listing last year.

A consortium comprising Anta Sports Products Ltd., Anamered Investments Inc., and Tencent Holdings Ltd. acquired the majority of the IPO shares. Notably, Anamered Investments Inc. is the investment firm of Chip Wilson, the renowned founder of Lululemon Athletica Inc.

In 2019, the Anta-led consortium acquired Amer Sports for $5.2 billion with the intention of introducing high-quality athletic equipment to China’s rapidly expanding middle class. While the IPO proved to be a resounding success for Amer Sports, it may have a dampening effect on the overall IPO market, as other recent IPOs have fallen short of their fundraising goals.

Amer Sports receives strong support from Anta Sports Products Ltd., which happens to be China’s largest producer of athletic apparel. Alongside Wilson tennis rackets, the company possesses several other well-known brands such as Louisville Slugger baseball bats, Arc’teryx outdoor gear, and Atomic winter equipment.

According to filings, Amer Sports reported a net loss of approximately $115.6 million on revenue of $3.05 billion for the nine months ending on September 30. With over 10,800 employees worldwide and offices in Helsinki, Munich, Krakow, and Shanghai, Amer Sports presents itself as a global player in the athletic equipment market.

Leading the Amer Sports IPO were prominent financial institutions including Goldman Sachs Group Inc., Bank of America Corp., JPMorgan Chase & Co., and Morgan Stanley. The company’s shares are traded under the symbol AS on the New York Stock Exchange.

The successful IPO demonstrated the investors’ confidence in Amer Sports, its esteemed brands, and its potential for significant growth. With the support of the Anta-led consortium, Amer Sports is strategically positioned to capitalize on the ever-increasing demand for high-end athletic equipment not only in China but also in other markets.

Useful links:
1. Amer Sports Official Website
2. Anta Sports Products Ltd. Official Website