Amer Sports IPO Raises $1.37 Billion

Amer Sports Inc. has priced its initial public offering (IPO) below the estimated price range, while increasing the size of the offering for its stock-market debut. The company is going public on the New York Stock Exchange at an offering price of $13 per share, which is below its estimated range of $16 to $18 per share.

This marks the second large IPO in 2024 to debut at a discounted price, following BrightSpring Health Services Inc.'s IPO on Jan. 26.

Amer Sports raised approximately $1.37 billion with its IPO, offering 105 million shares and working with 21 underwriters, including major firms like Goldman Sachs, BofA Securities, JPMorgan, and Morgan Stanley.

As of September 30, Amer Sports owns and operates 261 stores worldwide, with outdoor brands such as Arc'teryx, Salomon, and Wilson under its umbrella.

In terms of financials, the company reported a revenue of $3.55 billion in 2022, seeing significant growth from $2.4 billion in 2020 with a compound annual growth rate of 20.4%. However, its net loss also increased from $237.2 million to $252.7 million during the same period.

Some of the principal shareholders of Amer Sports include FountainVest Partners, Anta Sports Product Ltd., Tencent Holdings Ltd., and Anamered investments Inc., an entity affiliated with billionaire Dennis J. "Chip" Wilson, the founder of Lululemon Athletica Inc.

These shareholders acquired Amer Sports in 2019 after announcing their plans to purchase the company for approximately $5.2 billion in late 2018.

While the stock market has shown volatility recently, there are a few other deals on deck in the IPO market, including American Healthcare REIT, Fortegra, and Fractyle Health.

Also read: American Healthcare REIT, Fortegra and Fractyle Health set IPO price ranges as thaw continues